Obama Makes Volcker the Voice of Banking Reform


What started as an uphill crusade by former Fed Chairman Paul Volcker to split up the biggest global banks ended with a major policy shift for President Barack Obama, who on Thursday announced his support for Volcker's plan to restrict the size and activities of the largest U.S. financial institutions. Britain's Conservatives quickly announced support for the Volcker plan, but said they would not take actions that would disadvantage Britain's financial sector.