Wednesday, July 21, 2010

U.S. Financial Reform Bill

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.

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