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USA Today Article

Posted on: April 23, 2010

My favorite article was about our President Barack Obama. He has told Wall STreet to Join in on regulatory efforts. On Thursday, he urged them to drop its opposition to a proposed reshaping of financial industry regulation. He  hit back Republicans who didn’t put for the effort as a recipe for additional bank bailout. “I want you to join us, instead of fight us in this effort…. These are reforms that would put an end to taxpayer bailouts.” the president said to applause.

Obama stated that the proposal would enable the government to close failing financial institutions without hurting the economy, and limit the risk they run and require more openness in trading products called derivatives. It would provide a new consumer protection unit. As of today, some of the authors of banks do not want to be involved because the issue is the megabanks.

Obama Tells Wall Street to Join In On Regulatory Efforts

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