Fortune Magazine says that in the wake of Obama’s re-election, thousands of banks are at risk, with small banks taking the biggest beating:
Now that President Obama has been re-elected, analysts, consultants and dealmakers have turned from whether Dodd-Frank will be repealed to what it means for banks now that it’s likely here to stay. The overwhelming conclusion: Thousands of small banks will soon disappear.
But the banks are not the only group at risk. Companies in all areas are still having a difficult time with the economy.
John Schnatter, the CEO of ◼ Papa John’s Pizza announced to the press that Obama’s second term and the full enforcement of Obamacare would likely force him to cut the hours of many workers and add costs to his operation. Those costs would be passed on to consumers.
◼ Do elections have consequences? If you have been paying attention to the financial markets, you might think so. Wall Street has had two horrible days since President Obama won a second term. - Mike Opelka/The Blaze
However, stock prices are not the only thing taking a hit. It appears that the job market is also suffering. In the last 48 hours, the following major corporations have announced layoffs in America...