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Article: Banks' profits may get squeezed ; Global leaders seek new limits on risk
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- September 21, 2009
- Author:
CopyrightCopyright 2009 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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NEW YORK - Global leaders meet this week seeking to deliver the
broadest financial regulation overhaul since the 1930s, potentially
threatening profits and stock prices of banks, from Goldman Sachs
Group Inc. to Barclays PLC.
President Obama and his Group of 20 counterparts convene in
Pittsburgh Thursday and Friday to cement a plan to force banks to
curb leverage, hold more equity capital, and keep a greater pool of
assets that can be easily traded.
Bankers' pay will also top the agenda as officials try to hammer
out an accord that would prevent a repeat of the worst financial
crisis since the Great Depression.
But by limiting the ability of banks to invest and trade, the
world's ...