Nov 8, 2012

Wall Street casts cold eye on Obama win | The Raw Story
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Written by : Tom George| 0 | Business

 

NEW YORK — President Barack Obama’s re-election and the Senate victory of Elizabeth Warren, who is a fierce Democratic opponent of big banks and Wall Street, has sent shudders through the financial sector.

“An Obama win was definitely not positive for banks,” which would have preferred a win by Republican challenger Mitt Romney, said Jim Sinegal, a Morningstar banking analyst.

Hugh Johnson, head of investment manager Hugh Johnson Advisors, said the Obama administration would likely view the election as a mandate to further step up financial regulations.

“An administration which has already been tough on businesses and tough on banks will continue to be tough, if not tougher,” Johnson said.

He predicted a strong version of the Dodd-Frank financial reform legislation would emerge within the next year or two.

via Wall Street casts cold eye on Obama win | The Raw Story.

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Tom George

Founder and CEO of Internet Billboards. A futurist and serial entrepreneur, as well as a professional fitness trainer, martial artist, and business strategist. Helped to develop inbound advertising. An avid content curator who enjoys finding those digital gems out there in cyberspace and sharing them with others.
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Tom George

Founder and CEO of Internet Billboards. A futurist and serial entrepreneur, as well as a professional fitness trainer, martial artist, and business strategist. Helped to develop inbound advertising. An avid content curator who enjoys finding those digital gems out there in cyberspace and sharing them with others.

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