The uncertainty has vanished with the re-election of Barack Obama as president. But the incumbent who won a second term last night still has a number of problems that he continues to face from a sluggish economic recovery, a huge deficit, a stubbornly high unemployment rate and of course, the fiscal cliff.
Other legislation that Obama put in place in his first term will move forward, including the Affordable Care Act but also of much more immediate impact on the financial community is the Dodd-Frank Wall Street Reform and Consumer Protection Act. It clearly wont be rolled back but the question is whether the pace of the rulemaking and implementation will speed up.
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