Goldman, Banks Dip Further on Dodd Bill

[Stocks-to-Watch]

Bank stocks’ losses are increasing again after a brief respite this afternoon, following headlines that the financial regulation bill introduced by Senator Christopher Dodd (Dem., CT), will indeed, as expected, create a consumer agency within the U.S. Federal Reserve, and that it will implement the “Volcker Rule,” calling for curbs on banks’ proprietary trading.

Citigroup (C) is down 11 cents, or 2.8%, at $3.86; Goldman Sachs (GS) is off $3.70, or 2%, at $171.26, JP Morgan Chase (JPM) is down 45 cents, or 1%,at $42.70; and Bank of America (BAC) is down 15 cents, or almost 1%, at $16.70.



Original Article Source by Barrons.com