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Obama reforms to spur bank commodity trader exodus

Posted on 29 January 2010

From Reuters: U.S. moves to stop banks speculating in financial markets on their own account are likely to spawn a host of new independent commodities houses as banks sell trading units and as dealers leave to set up on their own.
Banks and trading companies say the plans flagged last week by the administration of President Barack Obama will almost certainly take more than a year to enact, and they suggest the eventual legislation may not be as tough on banks as expected…………………………………Full Article: Source


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