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A sweeping package of financial reform proposals unveiled Wednesday by President Obama would heighten oversight of banks, broker-dealers and non-bank financial companies, including potentially placing anti-money laundering requirements on hedge funds and private equity. The plan, which goes to Congress for approval and is likely to be altered during that process, could also institute new international blacklists for countries with weak financial crime programs. Under the plan, the government would be empowered to take command of and partition large firms that were financially unsound, broaden consumer protections and change the way loans are repackaged as securities in the secondary market,...