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Is The Bear Collapse Good For Clinton

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by Felix Salmon
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Mar 17 2008 12:00am EDT

Is the Bear Collapse Good for Clinton?

Might the Bear Stearns collapse be good for Hillary Clinton's presidential campaign? John McIntyre thinks so:

The very serious meltdown in the financial markets is likely to focus the country's attention on the health, stability and future of the American economy. Fairly or unfairly, Senator Clinton will benefit from her association with Bill Clinton's administration in the prosperous Nineties, and that perceived experience on the economy will stand in stark contrast to Senator Obama's dearth of experience.

Fred Wilson seems to be on a similar page:

We need someone who deeply understands markets and global economics. We need someone who has actually governed a large group of people.
McCain is allright but he doesn't show any inkling that he understands economics. Hillary might be the best of the three but her own party has deep reservations about her. And Obama, as inspiring as he is, is looking more and more like the politician that he is.

The big question is the degree to which upheaval on Wall Street feeds through into the broader economy. My feeling is that when people say they're worried about the economy, they mean just that - and not that they're worried about counterparty risk or agency spreads. Real people don't care about finance, they just look at the Dow. And the Dow actually peeked into positive territory earlier today. For the time being, there's no meltdown there.

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