Paul Volker has been pushing to separate trading and hedge fund from commercial banking. It has got the support of Obama. The market seems dismissing the chance for it to pass the congress. I am not to sure about it. I personally believe it will go through. 1. It makes sense. 2. It gets global support which takes away the arguments of competitive disadvantage. 3. It has public support. 4. Volker has high credibility.
The Chinese market rebounded as expected. Overall, I do not see much going on in the market. Google is experiencing some troubles right now. I think it has a 50% chance to leave Chinese search market but still stay for the mobile market. If the stock falls below $500, it would be interesting.
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