Wall Street still central to global economy

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There’s been speculation that we’re watching the demise of Wall Street dominance, that foreign banks may swoop in and steal business and talent from weakened American banks. Will New York remain the center of banking? The World’s Jason Margolis looked at that question. Download MP3

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Global economic crisis

President Barack Obama has announced a major reform of banking regulation to prevent future financial crises. The overhaul will require big banks to put more money aside against future losses to curb excessive risk taking. Consumers will get a special agency to protect their interests and regulate mortgages and credit cards. In outlining the reforms, President Obama described them as the biggest shake-up of the US system of financial regulation since the 1930s.