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8:09 pm, September 30, 2014

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Reform wayward Wall Street?

President Obama sent a strong message to Wall Street when he proposed imposing new limits on the size and activities of the country's largest banks. In an effort to prevent another financial Armageddon, Obama wants to prevent commercial banks (those that lend and maintain deposits) from also owning hedge funds or private equity units, and from engaging in proprietary trading (trading for their own accounts using their firm's own money).

Tags: Chris Hill , Obama , banking regulation , Wall Street , newsstand

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