Administration Position on New Financial Regulation
Remarks by President Obama
For the last several months, this administration has been working with Congress to reform an outdated system of financial regulations and lax oversight that helped lead to last year’s crisis. Part of our reform effort involves putting in place new safeguards that would help prevent the irresponsibility and recklessness of a few from wreaking havoc on our entire financial system. We want to close gaps in regulation; we want to eliminate overlap; and we want to set rules of the road for Wall Street that make fair dealing and honest competition the only way for financial firms to win and…
