Thursday, January 21, 2010Obama to announce tougher limits Thursday on size and complexity of banks
WASHINGTON (AP) - A senior U.S. government official says President Barack Obama plans to seek new powers to limit the size and complexity of large financial institutions and to limit their ability to engage in high-risk trade.
The president is expected to make the announcement on Thursday after meeting former Federal Reserve Chairman Paul Volcker.The official spoke on condition of anonymity ahead of the announcement.
The Senate is in the midst of writing new banking regulations.
Obama is placing a new emphasis on Wall Street regulations, with the aim of limiting the financial sector to smaller, less interconnected firms.
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White House: Obama make a statement on the reform of the financial system on Thursday
Thu Jan 21, 2010 12:53 am GMT
WASHINGTON - The White House said President Barack Obama will make a statement on Thursday on the reform of the financial system.
The White House said Obama's comments come after a meeting in the Oval Office with Paul Volcker, former chairman of the Federal Reserve (central bank), who heads the advisory board for economic recovery is advising the U.S. president.
AFPglobal
White House: Obama make a statement on the reform of the financial system on Thursday
Thu Jan 21, 2010 12:53 am GMT
WASHINGTON - The White House said President Barack Obama will make a statement on Thursday on the reform of the financial system.
The White House said Obama's comments come after a meeting in the Oval Office with Paul Volcker, former chairman of the Federal Reserve (central bank), who heads the advisory board for economic recovery is advising the U.S. president.
AFPglobal
