"In times of economic prosperity, Wall Street widely believes, limited government is good for stocks, because Washington stays out of the market's way. But in times of economic trouble, such as we face now, investors aren't sure gridlock is good."
I think it is hysterical. We have had complete Senate gridlock for 2 years. 400+ bills are bottled up there after House passage. The wait time for judicial confirmation - IF IT COMES AT ALL - is nearly a year. Now Wall Street thinks that in bad times, it isn't good that things are in gridlock and needs the government to act.
I may be sick.
I've spent much of the past couple years around brokers and traders. I think I have a feel for what goes on in their brains. A couple things that don't bother them are hypocrisy and morals. There are a lot of good folks in the business. Then there are a lot of very bad players.....people who want something for nothing and don't have an inch of trouble asking for it. If the expected landslide happens tomorrow you will see Wall Street types on bus caravans to Washington to line up at the trough.