Obama Aims To Limit Banks' Size, Proprietary Trading

  • Playlist
  • Download
  • Embed
    Embed <iframe src="http://www.npr.org/player/embed/122799586/122799550" width="100%" height="290" frameborder="0" scrolling="no">
  • Transcript

President Obama says the banks are still operating under the same rules that led to last year's financial meltdown. Speaking this hour at the White House, Obama said he wants to limit the size of the banks and prohibit them from trading on their own behalf, called proprietary trading. The White House wants Congress to add the proposal to legislation aimed at regulating the financial industry.

RENEE MONTAGNE, host:

NPR's business news starts with a plan for new restrictions on big banks.

(Soundbite of music)

MONTAGNE: President Obama says the banks are still operating under the same rules that led to last year's financial meltdown. Speaking this hour at the White House, Mr. Obama said he wants to limit the size of the banks and prohibit them from trading on their own behalf, called proprietary trading. The White House wants Congress to add the proposal to legislation aimed at regulating the financial industry.

Copyright © 2010 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR’s programming is the audio.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.