Tags: Obama | banks | coal | losers

Banks and Coal Companies Big Losers with Obama's Win

By    |   Thursday, 08 Nov 2012 08:59 AM

Banks and the coal industry are two of the obvious sector losers due to Mitt Romney’s loss of the presidency, according to The Wall Street Journal.

Leaders at energy and financial services firms claim the Obama administration’s tighter controls hinder profits, MarketWatch reported. Shareholders, however, might not be losers long term, according to MarketWatch, because recent blips in their stocks might be due as much to the glut of natural gas and internal problems in energy firms as to Washington policies.

Banks that supported Romney were licking their chops at getting rid of the provisions of Dodd-Frank financial law, because of the complex process of complying with the acknowledged onerous provisions, The Journal stated.

Editor's Note: Obama Donor Banned This Video But You Can Watch it Here

Opponents of coal shouted on websites about how President Barack Obama’s victory might spell the end of big coal as a major component of America’s energy puzzle.

“President Obama’s victory yesterday was a victory for clean energy, one that gives us a fighting chance to slash coal pollution and turn the corner on climate change, in the wake of a devastating hurricane that brought global warming into sharp, painful focus for millions of Americans,” crowed Mary Anne Hitt, director of the Sierra Club Beyond Coal Campaign, on the DailyKos website.

“We did it. Despite the hundreds of millions of dollars the fossil fuel industry dumped into this election to elect Mitt Romney, we proved that corporations are, in fact, not people,” Sierra Club Executive Director Michael Brune said in a written statement.

CNNMoney predicted that the healthcare, scientific research, alternative energy and housing sectors of the stock market would thrive after an Obama win, as would exporters to China.

Editor's Note: Obama Donor Banned This Video But You Can Watch it Here

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Banks and the coal industry are two of the obvious sector losers due to Mitt Romney’s loss of the presidency, according to The Wall Street Journal.
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