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LETTERS / ECONOMY

Obama is what Wall Street needs

November 16, 2008

Regarding Tom Petruno's column "Obama and the Fear Factor," Nov. 8:

This column focuses on the conjecture and politically biased fears of Wall Street Republicans. But inexplicably buried in the commentary was this briefest of truths about how Wall Street may very well fare under Obama: "Whatever else Clinton did, he wasn't bad for stocks in the '90s."

"Wasn't bad?" Obama's economic plans are similar to Clinton's, and this is how the Dow Jones industrials fared on an annualized basis under recent presidents: Reagan, 11.4% gain; George H.W. Bush, 11.8% gain, Clinton, 16.6% gain. The truth is, these Wall Street clowns should be begging for an Obama presidency.

Tracy Culp

Valencia

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