Obama's Banking Crusade: Impact On M&A And Private Equity

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President Obama's speech on banking reform this week sent the shares of the big Wall Street banks into a downward spiral. That was not surprising: his statement that 'never again will the American taxpayer be held hostage by a bank than is too big to fail' must have sent shivers down bankers' spines. Obama's plan includes new rules, which will place size limits on institutions, thereby implying a wave of divestments (as it is, US banks can hold no more than 10% of US deposits). Worse, the new scheme includes a ban on prop trading, as well as ownership, investment