Finance sector enters new era of regulation

The San Francisco Chronicle reports:

Those firms that are now part of traditional banks are already required to keep more cash on hand and reduce the size of their trading operations. And regulators are likely to force Wall Street's smaller firms not yet operating as banks to do the same.

"They will be less volatile, but they won't have that leverage to be more profitable in good times," Sandy Robertson said. "They won't have the losses and they won't have the gains."

The true end of Glass-Steagall.