Wednesday, January 20, 2010

Obama to Propose New Bank Rules

by Bill McBride on 1/20/2010 10:56:00 PM

Supposedly a return to the "spirit of Glass Steagall" ...

From the WSJ: Obama to Propose New Limits on Banks (ht MrM)

President Barack Obama on Thursday is expected to propose new limits on the size and risk taken by the country's biggest banks ...
From Bloomberg: Obama to Propose New Financial Rules On Proprietary Trading
Obama, who is meeting tomorrow with former Federal Reserve Chairman Paul Volcker, will propose the new rules as a part of an overhaul of financial regulations to help limit the size of financial institutions ...
This sounds like a Volcker like approach to regulating the largest banks.