Tuesday, February 2, 2010
EU Won't Imitate U.S. Bank Plan
President Obama recently outlined a series of proposals that could ultimately rewrite the world financial order by limiting banks' size and trading activities by preventing banks from investing in, owning or sponsoring a hedge fund or a private equity fund. Although the EU approves and supports the President's ideas they made it clear that the EU will not be following suit as it aims to reduce risk in the sector through other means. The EU has yet to make a plan for big banks' known.