Everyone loves to pick stocks based on elections. It combines two American loves: politics and gambling. Today, Bloomberg weighed in on two big names: Google (GOOG) and AT&T (T).

Google will benefit more from an Obama presidency while AT&T stands to benefit is McCain is elected.

Obama is pro net neutrality, which is bad for AT&T:

Before he was a presidential candidate, Obama co-sponsored legislation that would bar cable and telephone companies, including San Antonio-based AT&T, from using ownership of Internet connections to sell owners of sites such as Yahoo! Inc. premium service on their network.

Without such ``network-neutrality rules'' -- which ensure that networks can't be used to give preferential treatment to one company over another -- Obama says the free flow of information on the Internet is threatened.

Obama's access subsidies, meanwhile, would be good for Google:

[His platforms] include a plan to use about $5 billion in subsidies to provide rural and low-income households with high-speed Internet access. He says the money would come from a decades-old program that now pays for regular voice service for those same homes...

Such a shift in subsidies would directly boost Google and other Internet-service companies by increasing their potential pool of customers.

McCain, on the other hand is extremely close to the telecom lobby:

McCain's campaign manager, Rick Davis, is a former lobbyist whose clients included BellSouth Corp. and SBC Communications Inc. before they became part of AT&T, as well as Verizon Communications Inc. Charlie Black, a senior McCain adviser, is another former lobbyist and had AT&T as a client.

McCain also is being counseled on policy issues by Michael Powell, a former FCC chairman who led the agency's efforts to deregulate local telephone companies.

See Also:

Obama, McCain: Let the Search For the Next US Treasury Secretary Begin

Cramer: How to Profit from the Election No Matter Who Wins

Photo from ABC