Obama Proposes New Regulations on Big Banks

Goldman Sachs cut back on executive bonuses this year but still earned a profit of $13.4 billion. That announcement came on the same day that President Obama proposed new rules designed to restrict the size and the activities of Goldman Sachs and the rest of Wall Street’s biggest banks. “Never again will the American taxpayer be held hostage by a bank that is too big to fail.” Jonathan Weisman reports for the Wall Street Journal.