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Vanguard Endorses Obama, Democrats
futureofcapitalism.com

On the eve of the midterm elections, the giant mutual fund firm Vanguard has weighed in on the side of President Obama and the Democrats with a blog post by a company official declaring that without President Obama's stimulus bill, Americans might be facing a scenario of "unemployment of 15% or more. A Dow that would have fallen 75% off its peak—to 4,000 or less—before recovering to a level much below today's. An economic recovery that might not yet have begun. And finally a foreclosure crisis even larger than our present one."

The author of the post acknowledges that it is a "guess," leaving Vanguard investors (including this one) wondering why company officials are publicly guessing about politics and public policy so close to an election.

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Vanguard Endorses Obama, Democrats
futureofcapitalism.com

On the eve of the midterm elections, the giant mutual fund firm Vanguard has weighed in on the side of President Obama and the Democrats with a blog post by a company official declaring that without President Obama's stimulus bill, Americans might be facing a scenario of "unemployment of 15% or more. A Dow that would have fallen 75% off its peak—to 4,000 or less—before recovering to a level much below today's. An economic recovery that might not yet have begun. And finally a foreclosure crisis even larger than our present one."

The author of the post acknowledges that it is a "guess," leaving Vanguard investors (including this one) wondering why company officials are publicly guessing about politics and public policy so close to an election.

Read More...


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Steve Utkus

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