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What Does Ryan-Romney Mean for Your Money?

Monday, 13 Aug 2012 | 12:34 PM ET

On Monday, pros up and down Wall Street were trying to understand Mitt Romney’s VP pick and what it means.

Many said Romney's decision to go with Rep. Paul Ryan as his vice presidential running mate could dramatically shift the race for the White House.

After ruling out more conventional candidates - such as Ohio Senator Rob Portman and former Minnesota governor Tim Pawlenty - whose impact on the race likely would have been more benign - Romney chose Ryan.

Obama Advisor Ok with Election on Economy
Trader Steve Grasso and Jared Bernstein, former chief economist for VP Joe Biden, debate how Wall Street should view the Ryan pick.

A favorite among conservatives, Ryan is Catholic, a fitness aficionado and has many fans in the anti-tax, limited-government Tea Party movement.

Largely pros now believe the election will come down to two sharply contrasting views of government spending and debt and its role in the daily lives of Americans.

However, as, the chairman of the House of Representatives Budget Committee, Ryan could generate some headwinds. He's the architect of an intensely controversial long-term budget plan to remake Medicare and cut trillions in federal spending.

Will Ryan’s controversial budget plan become more of a headwind than tailwind? Find out from Steve Grasso and Jared Bernstein, Fmr. VP Biden Chief Economist.

After you watch the video tell us what do you think? We want to know!

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Posted by CNBC's Lee Brodie

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Trader disclosure: On August 13, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Jon Najarian is long call spreads in AAPL; Jon Najarian is long call spreads in EEM; Jon Najarian is long call spreads in FMCN; Jon Najarian is long call spreads in SBYX; Jon Najarian is long call spreads in OAS; Jon Najarian is long call spreads in ABX; Jon Najarian is long GLUU; Jon Najarian is long STSI; Jon Najarian is long CME; Jon Najarian is long CBOE; Joe Terranova is long VRTS; Joe Terranova is long MCD; Joe Terranova is long SBUX; Joe Terranova is long WFM; Joe Terranova is long AAPL; Joe Terranova is long EMC; Joe Terranova is long NXPI; Stephen Weiss is long JPM; Stephen Weiss is long WLP; Stephen Weiss is long QCOM; Stephen Weiss is long VZ; Stephen Weiss is long T; Stephen Weiss is long HK; Stephen Weiss is long TOT; Stephen Weiss is short JCP; Stephen Weiss is short AAPL PUTS; Steve Grasso is long HPQ; Steve Grasso is long ZNGA; Steve Grasso is long MSFT; Steve Grasso is long DD; Steve Grasso is long ASTM; Steve Grasso is long BA; Steve Grasso is long D; Steve Grasso is long FRO; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long MO; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long S; Steve Grasso is long XLU





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