According to Bloomberg news:
President Barack Obama sent Congress his plan to rein in the $592 trillion over-the-counter derivatives industry, a measure that would cut into a profitable market for banks led by Goldman Sachs Group Inc. and JPMorgan Chase & Co.
And:
“Operationally and legally, at least for a few years, it seems like it’s going to be complicated and costly,” he said.
Obviously it'll take a couple years, even in a perfect world, to regulate something so large & complicated. Wonder what kind of an affect on stock & bond values, interest rates, etc there will be. Think you should still invest like it's 1989?
Posts
