This sounds about right to me too:

Jonah,
While there may indeed be a slight effect on the market of Obama’s unabated inevitability, I’m sure the markets are even less keen on how every single solution being floated by anyone in power — from the rescue plan, to mcCain’s mortgage buy-up plan, ferderal ownership of banks, etc — involves more government regulation of and participation in the operations of banks and markets. Obviously, a Obama admin would likely exacerbate all those problems, but the fundamentally discouraging ingredient is that all politicians right now seem to favor a degree of nationalization, and not just the questionably socialist Senator from Illinois.