Obama's plan on the banks: - Banks would be prevented from owning, investing in or sp

Discussion in 'General Business' started by ST12, Jan 21, 2010.

  1. #1
    - Banks would be prevented from owning, investing in or sponsoring a hedge fund or private equity fund.

    - Banks would be barred from proprietary trading operations, unrelated to serving customers, for their own profit.

    (Proprietary trading refers to a firm making bets on financial markets with its own money, rather than executing a trade for a client – and can be enormously profitable.)

    ............
    proposal to ban banks that take deposits from also trading stocks for their own profit. The change would separate commercial banks from investment banks, a line that was blurred a decade ago by the repeal of the Depression-era Glass-Steagall Act..........

    The fckng big bankers are playing with our deposits on the stock market making big profits and giving us only 2%. Sometimes those bets on the stock market can influence the stock market to go up or down. And many times the small investor in the stock market gets screwed by those banks.

    So the bankers who are under the gun of being restricted about reckless practices are raising big noise now like it is the end of the US economy.
     
    ST12, Jan 21, 2010 IP