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January 21, 2010

Obama to Propose Limits on Bank Size, Trades
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President Obama is set to propose new regulations today for large Wall
Street firms. The measures would limit the size of large banks as well
as the practice known as proprietary trading in which commercial banks
trade financial securities from their own commercial accounts. Former
Federal Reserve chair Paul Volcker has been a leading advocate for the
proposals. He says it would help undo some of the damage of the 1999
repeal of the Glass-Steagall Act, which had ensured the separation of
commercial and investment banking.



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