NERVOUS

Why Wall Street Hates Obama

President Obama was Wall Street’s favored candidate in 2008, but no longer: This election cycle, financial institutions are showering their cash on Mitt Romney. A number of theories have tried to locate the cause of the disenchantment in Obama’s championing of financial reform and his general lack of respect for Wall Street. But Slate's Annie Lowrey says it’s much simpler. The terrible economy is finally catching up with the big banks: over the past six months they have seen profits plummet and major layoffs become reality. "Wall Street is, all of a sudden, suffering a bit, and like so many Americans, they blame the president."