Obama Now Taking On Wallstreet
Today, U.S. President Obama has launched a bill that is intended to regulate the financial market in the aftermath of the financial crisis. His four point initiative will include the following features:
- Power to the government of breaking up companies
- Rules implemented to reduce risk-taking
- Powerful watchdog for the government to identify threats
- Consumer protection agency planned
A comment by James Henry, U.S. economist and author, is showing his evaluation of Obama's giant bill that comprises more than 2.000 pages.