Obama 'Too Big to Fail' Plan Could Drown In Details

Law360, New York (January 21, 2010, 6:35 PM EST) -- President Barack Obama came out swinging with two new proposals aimed at restricting the “huge, reckless risks” and heavy concentration of assets at major banks, but the initiatives raise two questions: Will these ideas work? And does Congress have the stomach to pass them?

“We have to enact commonsense reforms that will protect American taxpayers and the American economy from future crises as well,” Obama said Thursday at a White House announcement.

The president's proposals would block bank holding companies from owning, investing in or sponsoring...
To view the full article, register now.