Sen. Dodd says White House proposal complicates regulatory reform

Senate banking committee Chairman Christopher Dodd, D-Conn., said he was in favor of the idea of limiting proprietary trading and ownership of hedge funds and private-equity divisions by major banks. However, the late proposal complicates lawmakers' effort to reform the financial-regulatory system, he said. Dodd also said the announcement from the Obama administration "seemed to many to be transparently political."

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