By now most of you should have read somewhere about President Obama’s proposal to rein in risk taking by banks. If you have not, you should at least know that there was a bloodbath on stock market (and yes commodity also) around the world over the past few days. If you still have not, well count yourself blessed.
In any case, I am writing this just to give some basic understanding on what President Obama is actually proposing that had rattle Wall Street and the rest of the financial world of late.
While he has been vague on details, I believe that what ultimately Obama is proposing is similar, if not the same, with what the US has implemented in 1933 called the Glass Steagall Act (GSA).
So what will be the impact on the market?
Courtesy from Strategic Investment, Read full article at http://mlstrategicinvestment.blogspot.com/2010/01/obama-declared-war-on-wall-street-or-is.html