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News Link • Economy - International

Obama to reassure G20 on Wall Street reform

• Reuters

"It is urgent," Michael Froman, Obama's top negotiator for next week's G20 gathering, told reporters.

He added that there must be "a consistent approach to regulation across jurisdictions" to avoid a "race to the bottom" in which financial players flock toward countries with more lenient oversight.

Obama used a high-profile speech on Wall Street on Monday to try to breathe new life into his proposals to fix regulatory gaps blamed for the 2008-2009 market panic that brought the financial system to the brink of collapse.


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