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Have the US government gone too far this time?

President Obama yesterday announced a raft of regulations and legislative changes which will limit the size and trading power of Wall Street financial institutions in the future. The move prompted a sell-off on Wall Street, followed by a sell-off in London which has been followed overnight by a sell-off in the Far East. It seems that investors believe the American government has gone too far this time and if this particular strategy is replicated across the world there could be enormous implications for future worldwide economic growth.

There is a feeling in America that the US president was literally looking to deflect attention from his troubled health care bill and chose the financial sector, still public enemy number one around the world, as his next victim. However, in a bid to perhaps try and attract the popular vote it looks as though President Obama may well have alienated Wall Street, caught investors by surprise and his moves could have a major impact on future worldwide economic growth.

Despite the fact that the financial sector has been the engine room of the worldwide economy for many years it seems as though the fuel supply required for future growth may well be stopped at source.

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