Wall Street Analyst Predicts 10 Percent Chance For Obama Resignation


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Is there a chance that President Barack Obama will resign ahead of the 2014 elections to offset voter backlash against Democrats due to controversy over his signature healthcare overhaul? According to one Wall Street analyst there is.

“If ObamaCare is the fiasco that some headlines are suggesting it is, I place the odds around 10% the president will resign before next November’s election,” Kent Engelke, managing director at the brokerage Capitol Securities Management, told Fox Business.

The 27-year securities industry veteran told the news outlet that his estimate is based on the fact that 7 percent of Presidents have resigned or were impeached (Andrew Johnson and Bill Clinton were impeached; Richard Nixon resigned). The analyst added another 3 percent because of tensions between Obama and members of Congress upset over his disastrous healthcare rollout.

“Because of the lack of a strong relationship with Congress, I think there are few Democrats who will fall on the proverbial grenade to protect the President,” Engelke said.

H/T: Fox Business

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