“Ultimately the biggest winners may be those who finance municipal and state debt. Owing his election to the fiscal failures of New York, Illinois and California, Obama could have to use his executive power to forestall looming bankruptcies at the local and even state level. Ironically the biggest winner here in the crony capitalist sweepstakes will be firms like Goldman Sachs, who turned so vehemently against Obama, but have historically made much of their money on financing government operations. Some people never seem to lose no matter what the result of the election.”
