redemption ? or a feint ?

"Trading, proprietary or otherwise, did not lead to the financial crisis," said Rob Nichols, president of the Financial Services Forum, a lobbying group for CEOs of firms such as Goldman Sachs and JPMorgan Chase.

He said the government should be focused on better risk management, corporate governance and other forms of regulatory oversight, "rather than arbitrarily banning certain activities, or setting arbitrary size limits."

This guy Obama was living true to my prediction all of 2009 as an expert practitioner of masterly inactivity. But post the loss of a crucial and important senate seat in a recent election he has suddenly realised why he won the elections in the first place - TO CLEAR THE MESS THAT THE REPUBLICANS HAD MADE IN THE PAST CENTURY..

If this proposal of his to limit banks to banking and remove all proprietary trading to separate entities not backed by banks or institutions where public money is involved were to pass muster in congress - this man Obama will have my vote if ever he decides to move to India and stand for elections. (why not - we have no problems with an italian running the country!!).

As for Mr Rob Nichols and those whom he represents - they now have to think up another way to keep their casinos running with public funds!!