Obama Clamps Down On Banks

"Video: Obama Steps Up Campaign Against Wall Street"

U.S. President Barack Obama has announced new measures to clamp down on American banks, via limiting their participation in hedge funds, which are risky investment vehicles.

Wall Street was not pleased with the news, as it means a number of big banks will have to sell off or spin off, certain divisions of their financial institutions.

I remember years ago when brokers began to brag about hedge funds as the new must have investment vehicle. At the time, I interpreted it as an enclosure for shaky investments some did not wish to provide an adequate explanation for, as they are risky. But really, people should have seen that disaster coming - since when do the words "risky" and "investment" in the same sentence spell success.