U.S. Stock Exchange Chiefs Reject Obama's Planned Volcker Rule
The heads of the top U.S. stock exchanges have rejected President Barack Obama's plan to bar banks from proprietary trading. The chief executive of NYSE Euronext said the plan falls short of targeting what caused the financial crisis. The Nasdaq OMX chief said the plan would probably have to be changed. Obama surprised Wall Street with the proposal to limit risky trading by banks.
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