Oh dear, Obama
US President Barack Obama’s recent statement about curbing US banks’ abilities to use their own capital to trade out of proprietary investment accounts or to invest in private equity funds and hedge funds is rife with implications, but very little in the way of clarity.
There is no question that hubris, greed and a lack of perspective led to a financial crisis that is still being felt around the world. There is also no question that the banks that caused the disaster...
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