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News Link • Obama Administration

Obama challenges Wall Street to support his regulations

• McClatchy News
A year after the collapse of Lehman Brothers ushered in the worst economic crisis since the Great Depression, President Barack Obama said Monday that although the nation was "beginning to return to normalcy," Congress still must pass new regulations on the financial industry to avoid a repeat.

"Normalcy cannot lead to complacency," Obama told a Wall Street audience in a speech at Federal Hall in New York in which he also defended as necessary his $787 billion economic stimulus plan. He appealed to the financial community to support what he considers necessary changes in the way it does business, and to Congress to enact a regulatory overhaul by year's end. Both appear unlikely.


1 Comments in Response to

Comment by Lola Flores
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 ROFL!  I've been laughing at that speech all day today

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