Tag Obama

Barack Obama declares Bank Reforms.

Under fancy names like Financial Derivatives etc, Banks have strayed away from the their basic business , that is keeping public money safe and invest only in sound stocks and near nil risk lending with adequate collateral.
Indulging in Proprietary Trading in essential commodities like online Trading commodities, not only pushes up the price of essentials because of speculative trading, also risks Banks investments in this sector.
Very good move by Obama,no doubt he will be unpopular and be targeted by corporation lobbyists.