It is no secret that Wall Street and Obama aren’t buddy-buddy, but the numbers since Obama’s first term would suggest otherwise. Since it bottomed out in 2009, the stock market has gained 125 percent in the biggest gain under any president since WWII. Corporate profits, even including taxes, have soared to their highest levels since WWII. And, companies are more profitable relative to their size of the economy, than at any time since WWII. You’d think Wall Street would be overjoyed with Obama, but the truth is that Obama’s sharp stance toward the financial sector, marked by first-term regulatory efforts in turn spurred Wall Street to back Mitt Romney in 2012. Its losing bid will only encourage Obama to take an even harder line to the industry he said was safe (relatively speaking) from the public’s wrath because of the White House. It may be safe no more.
Medicare managers' new spreadsheets suggested that Medicare drug plan growth may have stalled.
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