Political News: Romney Erases Obama's Lead

By Jonah Loeb  OCT 10, 2012 11:25 AM

Also, Goldman Sachs bankers are now backing the Romney campaign.


This column outlines the most useful and interesting business and financial commentary on politics every week.

Wall Street Journal Election 2012
Link: Regulatory, Personal Attacks Prompt Goldman Bankers To Switch Sides
When Barack Obama ran for president in 2008, no major U.S. corporation did more to finance his campaign than Goldman Sachs (NYSE:GS).

“This election, none has done more to help defeat him.

“Prompted by what they call regulatory attacks on their business and personal attacks on their character, executives and employees of Goldman Sachs have largely abandoned Mr. Obama and are now the top sources of money to presidential candidate Mitt Romney and the Republican Party.”

Link: Colorado Exposes Candidates' Weaknesses
“Here, Romney faces an intersecting set of his party’s generational challenges: a leftward-moving consensus on social issues like gay rights, a Republican image problem with women voters in the critical Denver suburbs and a vast deficit with Hispanics who made up nearly 21 percent of Colorado’s population in the 2010 census.

“Obama, meanwhile, faces deep resistance from voters in the energy and defense sectors — Lockheed Martin (NYSE:LMT) has a powerful presence here — and skepticism from the moderate-leaning independent voters in places like the Denver suburbs of Jefferson County, who voted for him in 2008 and have drifted away since.”

CNN Money
Link: Jack Welch: I Was Right About Jobs Report
“Jack Welch elaborated Wednesday on his widely-debunked criticism of the latest government jobs report, claiming in an op-ed that the reported 7.8% unemployment rate is ‘downright implausible.’

“The unemployment rate fell to 7.8% in September, down from 8.1% a month earlier. The drop was due to a BLS survey of households that showed 873,000 more people had jobs than in the previous month. That was the biggest one-month gain in more than nine years.

“Welch, the former CEO of General Electric (NYSE:GE), had previously contributed content to Fortune, but following critical coverage of his comments on the jobs report and tenure at GE, Welch said in an e-mail Tuesday that he was terminating his contract with Fortune.”
New York Times FiveThirtyEight
Link: Romney Erases Obama's Convention Bounce In Forecast
“Following another day of strong polling on Tuesday, Mitt Romney advanced into the best position in the FiveThirtyEight forecast since the party conventions. His chances of winning the Electoral College are now 28.8% in the forecast, his highest since Aug. 29. For the first time since Aug. 28, President Obama is projected to win fewer than 300 electoral votes. And Mr. Obama’s projected margin of victory in the national popular vote — 2.0 percentage points — represents the closest the race has been since June 27.

“The forecast model is not quite ready to jump on board with the notion that the race has become a literal toss-up; Mr. Romney will need to maintain his bounce for a few more days, or extend it into high-quality polls of swing states, before we can be surer about that.”

Washington Post Politics
Link: Ohio Appeals To Supreme Court On Decision Reinstating Three Early Voting Days
“Ohio’s election chief on Tuesday appealed a ruling that reinstates the final three early voting days in the battleground state, calling a decision last week by a federal appeals court ‘an unprecedented intrusion’ into how states run elections.

“Secretary of State Jon Husted asked the US Supreme Court to decide whether the state legislature or federal courts should set Ohio election laws."
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