Obama tries bank reform to stem voter anger

President Barack Obama

Barack Obama is moving fast to re-invent himself with voters who wonder is the President they have is the President they thought they elected.

He’s moving clamp down on big risks by big banks.

But some wonder is the President is trying to do too little too late.

Time will tell.

President Barack Obama, reeling from an election defeat in the Senate, will propose stricter limits on financial risk-taking on
Thursday in a move that may recall Depression-era curbs on banks.

The president will announce a series of measures to cut down on
excessive risk-taking as part of a revamp of the country’s financial
regulatory system, a senior Obama official said on Wednesday.

The move could also help the White House tap into public rage over Wall Street excess after Obama’s Democratic Party was rebuffed by voters in Massachusetts, who elected Republican Scott Brown to the U.S. senate.

“The proposal will include size and complexity limits specifically on proprietary trading and the White House will work closely with the
House and Senate to work this into legislation,” the official said.