Last week, a combative President Obama announced his financial reform proposal, a move that will impose new restrictions on big banks and may signal an abrupt change to the way that federal regulations are applied to Wall Street.
Obama stated that large financial institutions almost destroyed the U.S. economy, because they took "huge, reckless risks in pursuit of quick profits and massive bonuses," according to Politico.com.
The president proposed to limit the size and scope of financial firms by restricting them from making "risky" investments. His plan will also ban banks that take deposits from trading stocks for their own profit, a change that would separate commercial banks from investment banks, Newsmax reports.
"Proposals to preemptively break up large, well-managed and well-capitalized banking companies are based on a misdiagnosis of the causes of the financial crisis," said Rob Nichols, president of the Financial Services Forum, quoted by the news source.
The stock market went into a tailspin last week following Obama’s announcement, with the Dow Jones industrial average losing over 200 points.
The president’s new regulations come on the heels of last week’s announcement that a "responsibility fee" would be applied to large financial institutions to recoup the $117 billion spent on government bailouts.

President Obama and other Democratic leaders may find it more difficult to successfully pass several key pieces of legislation following the crucial loss in the Massachusetts special election Jan. 19. Republican Scott Brown defeated Democrat Martha Coakley by a margin of 52-47 percent to win Ted Kennedy’s vacant Senate seat in an upset that was almost unimaginable only a few weeks ago.
President Obama will deliver his much anticipated State of the Union address tonight. Experts believe that this year’s speech will be especially vital for the popularity of the current administration as it has introduced a surplus of legislation that has been heavily criticized by conservative leaders. 
While Republicans continue to celebrate the historic Senate victory of Scott Brown in Massachusetts, conservative leaders in Washington have begun their push to get the senator-elect certified before Democrats finalize their version of the healthcare reform bill.
A newly released public opinion survey suggests that if Sarah Palin decided to run for president in two and a half years, she would not only have to go against the wishes of the majority of Democrats. Chances are, she would also run into trouble convincing her fellow Republicans to offer support. 
A recent study from the University of California has found that patients who have coronary heart disease with high blood levels of omega-3 fatty acids may age more slowly than those with the lowest levels of the compound. 
According to a new Gallup poll, the majority of Americans believe that President Obama and other Democratic leaders should postpone debate on the current healthcare reform bill and consider alternative legislation that would garner more GOP support. 

According to a large-scale national survey, most current medical students believe that knowledge of complementary and alternative medicine (CAM) would greatly benefit Western doctors. 
A recent study has found that adding fish oil to intravenous (IV) solutions may be beneficial for intensive care patients with the life-threatening blood infection known as sepsis, which is caused by an overwhelming immune response to infection. 
Planned Parenthood is set to open its largest abortion center later this year in Texas, but opponents of the procedure have already started a wave of protests they hope will lead the organization to reconsider. 
President Obama’s long-time friend and political ally Rahm Emanuel has come under fire from a liberal group that claims the White House Chief of Staff has mishandled major issues on the president’s agenda. 
On Jan. 19, a group of the youngest victims of the Haiti earthquake arrived in the United States for adoption, just a week after the government announced it would halt deportations of illegal immigrants to their devastated homeland. 
As his first year in office comes to an end, President Obama has touted the benefits of the massive stimulus package he signed just weeks after being sworn in, and he called for additional spending in the coming months. 
Researchers at Nara Women’s University in Japan have discovered that thyme oil may contain inflammatory suppression compounds similar to those found in red wine. 
Consuming green tea may lower the risk of developing lung cancer among smokers and non-smokers alike, a new study has concluded. 
On Sunday, President Obama spoke about healthcare reform from the church pulpit of the Vermont Avenue Baptist Church in Washington D.C., calling the impending bill a victory for "decency."
The current recession has revealed significant and dire shortcomings in the nation’s approach to retirement savings, TIAA-CREF has said. 
A major embarrassment may be brewing for the U.S. government as researchers have allegedly found evidence that NASA scientists manipulated data in order to claim that the year 2005 was the warmest year on record, KUSI-TV has reported. 
In addition to producing high heating bills, the cold weather that has gripped much of the country poses health dangers related to hypothermia, especially in the elderly. However, there are ways to protect oneself from excessive loss of body heat both at home and outdoors. 