TJ - The Publication for Learning and Development

Editorial

By Elizabeth Eyre (February 2010 Issue)
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As this edition of TJ went to press, US president Barack Obama was declaring war on Wall St.

He called for a range of measures to prevent American banks taking excessive risk, including banning them from running proprietary trading desks, hedge funds or private equity units. He also wanted to limit their size in future by restricting the amount of ordinary banking business they can do.

Obama was quoted in the Daily Telegraph as saying: “My resolve to reform the system is only strengthened when I see a return to old practices at some of the very firms fighting reform and when I see record profits at some of the very firms claiming they cannot lend more to small businesses, cannot keep credit card rates low and cannot refund taxpayers for the bail-out.”

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