Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
2016 Postmortem
Related: About this forumDid Wall Street Just Give Up on Romney?
Monday, 5 Nov 2012 | 6:12 PM ET
Many on Wall Street are increasingly convinced that Barack Obama will win the election.
On the eve of the election, many financial professionals on Wall Street believe that Mitt Romney has lost the election. In phone conversations, email and instant messaging exchanges, and text messages with over 20 people in different jobs on Wall Street today the message I picked up was almost universal: The president will be re-elected tomorrow.
Many of those with whom I spokeall of whom spoke on the condition of anonymityhad a sense of resignation about this forecast. They were Romney guys. They ate at expensive rubber-chicken fundraisers in midtown hotels, they coaxed friends and coworkers into donating to Romney and Republican campaign funds, and just a few weeks ago they were enthusiastically predicting a victory for Romney.
Not any longer. The word that comes to mind is: capitulation. The sudden and simultaneous collapse of hope that we sometimes see in markets just as they reach their lowest points.
On the eve of the election, many financial professionals on Wall Street believe that Mitt Romney has lost the election. In phone conversations, email and instant messaging exchanges, and text messages with over 20 people in different jobs on Wall Street today the message I picked up was almost universal: The president will be re-elected tomorrow.
Many of those with whom I spokeall of whom spoke on the condition of anonymityhad a sense of resignation about this forecast. They were Romney guys. They ate at expensive rubber-chicken fundraisers in midtown hotels, they coaxed friends and coworkers into donating to Romney and Republican campaign funds, and just a few weeks ago they were enthusiastically predicting a victory for Romney.
Not any longer. The word that comes to mind is: capitulation. The sudden and simultaneous collapse of hope that we sometimes see in markets just as they reach their lowest points.
---
More:
http://www.cnbc.com/id/49662650
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
5 replies, 1324 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (1)
ReplyReply to this post
5 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
Did Wall Street Just Give Up on Romney? (Original Post)
TroyD
Nov 2012
OP
I loves me some capitulation.
kurt_cagle
(534 posts)2. In a word
Yes.
DCBob
(24,689 posts)3. TheStreet Predicts Obama Will Win the 2012 Election
GitRDun
(1,846 posts)4. It just amazes me that you don't see the loss attributed Republican policies
I thought these guys were supposed to be smart!
yellowcanine
(35,702 posts)5. Wall Street financial professionals know when to cut losses....
None of them wants a reputation of not knowing when to cut a loss.