How the Elections Affect Retail Real Estate

David Bodamer ponders over the impacts of the elections on our world:

• Carried Interest tax hike less likely
• Gridlock in terms of legislative changes.
  
• Somewhat counter the prior point, less uncertainty with a Republican in terms of tax increases and pro-business measures
  
• Slot machines coming to Arundel Mills (BACM 2007-4 and BACM 2007-5)

In the near term, say 2-4 years, I foresee gridlock, uncertainty, and a lot of negative stuff. How can you make a business decision in this climate without being able to measure the political risk, which is arguably the most predominant risk in MBS markets.