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Lane: A More Bipartisan Attitude Will Stimulate Markets

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    Raymond James vice chairman Fred Lane weighs in on Congress and the markets.

  • Duration 2:58
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-- -- -- So if congress did act this summer to extend the bush tax cuts.

Is that the best possible news for the stock market Fred lane is the vice chairman of investment banks.

Raymond James and spread if you look out to the end of the year I don't want to sound like chicken little but.

I worry about all that congress -- kind of fit delaying until the very end of the year to extend all of these tax cuts.

What else is new I mean you you don't really think that something's gonna be -- that are -- you.

I -- -- how and that's.

Well if you did if -- if congress could do something -- our wouldn't that give everybody confidence boost -- are now what do you say.

-- It'll be an enormous confidence boost but I'm not sure we get to withstand the shock -- at all it's just it's just doesn't seem to be where the way the system works on listening to this debate.

-- before -- Carolina and I'm thinking to myself you know.

You know.

-- and I love the fiscal stimulus and above extending the tax cuts.

But I'm not gonna sit there and follow my sort of from a politician on either side about somebody making a million dollars it a year -- and and now I just don't think that you know that's such a small fraction.

Of our.

Of our.

Murder.

Wage earners not above -- probably a pretty significant.

Percentage of people contributing to actual text taxes -- repayment of core of -- a personal taxes.

But nonetheless I I think it's not a it's not a debate worth having I think a more centrist attitude in general a more bipartisan attitude and general.

Would go a long way to stimulate and M -- a activity is stimulating the stock markets and ended drive additional IPO activity well.

Good looking out to the end of the year because didn't congress is gonna -- have to act on on the tax cuts when -- and other whether they extend all of them are just some of them.

What at what point do you think it starts showing up in the stock market because again capital gains tax -- will go up.

And something will surely want to realize you know even if it's just a question mark.

Warner realise some gains at low rate.

Dividend taxes the tax rates will go up as well -- think it shows up in in stocks.

Let's I think it's already baked into the stocks I mean you know that there's a lot of discounting of risk and a lot of taking -- -- risk.

And I think -- already in the stock prices just as the European crisis is in the stock prices just as -- a very weak.

And prolonged.

Economic recovery out of Europe -- in the price is just as our own weakness.

In terms of economic our recovery -- it is is is here -- we know we've had three good years of economic growth.

Not great years in fact actually kind of mediocre years.

But that's already taken -- the stock prices.

Credit was great to talk to us all away is -- -- Raymond James you're welcome back any time they well.

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