Obama to Propose New Rules on Banks’ Size, Proprietary Trading

Discussion in 'Wall St. News' started by belmondo, Jan 21, 2010.

  1. belmondo


  2. all i know is that you will see volume dwindle to abt Zero, slowly but surely we are getting there.
  3. rc822


    Once they institute the bank fees, then these rules on bank size/proprietary trading, and eventually a financial transaction tax, it will be game over!!!
    Wasn't it last year when Obama stated that he envisioned a much smaller Wall Street, and indicated that in the future, it wouldn't play such a vital role in our economy. Well, he's on track to making that happen, isn't he?
  4. Obama has the political power of a Rod Blagojevich about now. He's jumping on this quickly after the his MA debacle to score points with his base and the stupid people of America (as he likes to call them).
  5. mikasa


    because we are becoming global world

    if they decide to kill traders, regardless of size

    that's it

    never in a million years did I think that me and Goldman Sachs would be considered the same

    of course it could all be PR and nothing more
  6. PR before his "State of the union address"
  7. rc822


    That's possible. If he didn't bring proposals like this up, what reason would his minions have to give him a standing ovation at the State of the Union address? He certainly won't get ovations with anything else he has done.
    This could also be political piling on by Obama to get the bank fee legislation passed, without any intense lobbying/fighting by the banks, in exchange for Congress not passing the legislation he's going to propose today. But fat chance the banks will stand for any of that crap.
  8. Dogfish


    What's going to happen to Goldman's share price when the details are announced is what I want to know, they make so much from their prop side - trading all the leaked economic releases early? :D

    Will the days of hearing the pit squawk go "Goldman sells 2000 just before the figure!" be a thing of the past?
  9. wave


    Somebody stop this guy. What business does big brother have in prop trading. Sheesh. If Goldman has the $$$ and edge to do well in prop trading their own money, let them be. Why don't we stop Apple or Microsoft from making too much money while we are at it? What happened to free enterprise? Holy Crap.
  10. sumfuka


    GS shares will go to the roof, since they would be 1 of the 2 remaining bank left. After our glorious leader is done with financials, who knows if you could even call banking as financial again. Maybe a nicer name to the banking industry would be debt bartering system: DBS for short. :)
    #10     Jan 21, 2010