These regulations are more or less like the Glass-Steagall act. Are we sure this is really a bad move? I’m not convinced. I’d like to hear Karl Denniger (who’s pretty excited) weigh in on the foreign bank aspect.
I agree with you, I don’t have a feel for the scope of what obama is trying to do to say if it is good or not. While the banks are not totally at fault for what has happened, they certainly bear some of the blame. As for foreign banks, I would rather bury my savings in the back yard rather than go that route. Course with the dems in charge, in a few years I’ll be lucky to be able to buy a hershey bar...LOL