Glass-Steagall II?

Okay, I certainly didn't see this coming:

Obama to Propose New Rules on Banks’ Size, Trading

Smart politically, not like you're going to get a lot of people angry going after banks these days. We'll just see what the weak-kneed and paid-for members of Congress do with this.

Here's Ryan Chittum's take:

Make no mistake about, this is a massive story. ...this is a major switcheroo by the administration and a throwing down of the gauntlet at Wall Street, which has so far shown the ability to block or water down any real change it doesn’t like—with the aquiescence of Obama and Co.

The lobbying battles to come over this will make the skirmishes we’ve seen so far look petty.

I'll just bet. But if the Dems fold vs. the Health Care lobby now - what chance do they have against the banking lobby?