Obama to target excessive financial risk-taking

WASHINGTON (Reuters) - President Barack Obama, reeling from an election defeat in the U.S. Senate, will propose stricter limits on financial risk-taking on Thursday in a move that may recall Depression-era curbs on banks.

The president will announce a series of measures to cut down on excessive risk-taking as part of a revamp of the country’s financial regulatory system, a senior Obama official said on Wednesday.

The move could also help the White House tap into public rage over Wall Street excess

“The proposal will include size and complexity limits specifically on proprietary trading

Proprietary trading refers to a firm making bets on financial markets with its own money, rather than executing a trade for a client.

A more aggressive proposal was put forth last month by

John McCain and Democratic Senator Maria Cantwell.

reinstate the 1930s-era Glass-Steagall limits Read more at www.reuters.com