Recklessness Has Its Place

January 26, 2010

President Obama is moving aggressively to stamp out what he calls “reckless risk” on Wall Street. The place for reckless financial behavior, in the president’s view, is Washington, D.C., where he can direct it. Smarting from his party’s loss last week in Massachusetts, Obama took another swing at his favorite political punching bag — the nation’s big banks — by declaring that they should be banned from running hedge funds …

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