Wall Street Gets A Migraine

HopeTracker| The Financial Times describes the Wall Street reform measures proposed today by President Obama as “on a par with the response to the 1929 stock market crash which prompted the then US government to separate investment and commercial banking, a split that lasted until 1999. “

The measures, backed by presidential advisor Paul Volker, may require Wall Street companies like JPMorgan Chase and Goldman Sachs to spoin off their hedge funds and private equity operations, and stop making trading bets with their own money. Read on: Obama hammers Wall Street banks.