http://nymag.com/news/businessfinance/bottomline/51007/
Cramer endorses Obama
What will New York look like a year from now? The answer: bad and probably worse, and perhaps downright catastrophic. Three degrees of awful. The first step was passing the bank-bailout legislation. Now that its doneand if it didnt get done we would have been looking at a guaranteed economic collapsethe critical issue will be presidential leadership. And while any president will be an improvement over the current one, there is a growing belief on Wall Street that Barack Obama has the capacity to lead us out of this wilderness while John McCain does not. Ill go a step further: Obama is a recession. McCain is a depression.
Wall Street usually favors Republicans when it comes to managing the economy, but this time around the financial community is skeptical. John McCain has done everything he can to avoid talking about the economy, lest he be tarred with the brush of George Bushs ineptitude. And when McCain has attempted to step into the fray, hes been far from reassuring. First, he insisted that the fundamentals of the economy were sound; then he turned around and told us it was the end of the economic world as we know it, and suspended his campaign to scramble back to Washington and save the day on the bailout billonly to have little visible effect. For all his talk of being a maverick, McCain looks an awful lot like President Bush on the credit crisis: He doesnt seem to understand Wall Street or Main Street, he is dogmatically anti-regulation, and his economic team is a joke. Carly Fiorina almost destroyed the onetime best technology company in America, Hewlett-Packard, and Meg Whitman took eBay, the best dot-com player, and turned it into a mediocre franchise that has no growth. Both are perceived by Wall Street to be also-rans who are on the team because they have nothing else to do
Cramer endorses Obama
