Henry Blodget, editor-in-chief of Business Insider, sits down with “Viewpoint” host Eliot Spitzer to consider why President Obama is losing out to Mitt Romney in the battle for campaign cash from Wall Street.
When asked why bankers would support Mitt Romney when his calls for lower taxes and deregulation reflect some of the issues that led to the financial crash in 2008, Blodget describes bankers as “perpetually optimistic,” also noting, “They like to be free to make their own mistakes.” He offers a glimpse into their thought process: “The intelligence is, ‘Nine times out of 10, I’m going to make a gazillion dollars. One time, you know, maybe we lose money – worst thing that can happen to me is I get fired, I go to a hedge fund, I make more money than I’m making here.’ Who pays for it? Shareholders and taxpayers.”
