Obama To Propose Great Depression-Style Bank Curbs
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President Obama is expected to propose today new limits on the size and risk taken by the country's biggest banks, according to reports from the Wall Street Journal.
The limits would mark the "return, at least in spirit, to some of the curbs on finance put in place during the Great Depression" the Journal said citing congressional sources and administration officials.
One proposal would force the banks to separate underwriting and trading from traditional businesses, which make loans and take deposits.
Related Banks:
Bank of America (NYSE: BAC)
Wells Fargo (NYSE: WFC)
JP Morgan (NYSE: JPM)
Citigroup (NYSE: C)
Goldman Sachs (NYSE: GS)
Morgan Stanley (NYSE: MS)
The limits would mark the "return, at least in spirit, to some of the curbs on finance put in place during the Great Depression" the Journal said citing congressional sources and administration officials.
One proposal would force the banks to separate underwriting and trading from traditional businesses, which make loans and take deposits.
Related Banks:
Bank of America (NYSE: BAC)
Wells Fargo (NYSE: WFC)
JP Morgan (NYSE: JPM)
Citigroup (NYSE: C)
Goldman Sachs (NYSE: GS)
Morgan Stanley (NYSE: MS)
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