Photo: The White House via Flickr
Morgan Stanley sent out a memo to employees on the day after Election Day.It’s interesting to see how the firm assesses what happened during Mid-terms.
Basically: Obama’s going to try to win again (ugh), and so we predict policy changes in energy, trade, tax, and immigration.
November 3, 2010
To: All Employees
From: Michael Stein
Subject: Mid-Term Election Results
After the existing Congress completes business in the November/December “lame duck” period, the 112th Congress will take the reins in January. The conventional wisdom is that a divided Congress will produce very little in the way of legislative accomplishment. However, the inherent risk in doing nothing is a weak legislative record on which to run for re-election. President Obama and Congress will surely be mindful of this, as the next 2012 election looms. That risk is even more pronounced in the current environment where the electorate clamors for solutions.