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Obama's Half-Baked Bank Reform


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Obama's Half-Baked Bank Reform

Nomi Prins

Seeing Paul Volcker, former Fed Chair and chairman of the EconomicRecovery Advisory Board, lord over President Obama yesterday as he madehis proposal to limit the scope and size of financial institutions, itwas easy to imagine him saying "I told you so." Volcker, after all, hasbeen a long time advocate of slicing up banks and prohibiting them fromthe majority of speculative activities.