Obama announces proposals to rein in U.S. banks

on January 21 2010 11:56 AM

President Barack Obama vowed on Thursday to rein in the biggest U.S. banks, proposing new limits on their trading practices and their ability to become too large.

Obama said the new proposals would keep taxpayers from being held hostage by banks that have become too big to fail and that pose a risk to the entire financial system.

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