On the eve of Senate consideration of financial regulatory
reform, President Obama and other top administration officials are
ramping up pressure to pass the overhaul.
The president will travel to New York City on Thursday to push for
financial reform, the White House announced Monday. In remarks at Cooper
Union, a New York school of art, architecture, and engineering, he will
call for “swift Senate action” and “remind Americans what is at stake
if we do not move forward with changing the rules of the road as a part
of a strong Wall Street reform package,” White House press secretary
Robert Gibbs said in a statement.
In another sign the
administration is working aggressively to get the votes to bring
legislation to the floor later this week, Treasury Secretary Tim
Geithner was to meet with Sen. Susan Collins (R) of Maine on Monday.
This followed a meeting last week between Secretary Geithner and Sen.
Scott Brown (R) of Massachusetts.
The Democrats need at least one
Republican vote to halt a GOP filibuster, and those two are among the
more moderate Republican senators potentially willing to allow a floor
The announcement Friday that the Securities and Exchange
Commission was suing banking giant Goldman Sachs for alleged fraudulent
behavior has energized Democrats to fight for reform and heightened the