BLOOMBERG, The administration has proposed an overhaul of U.S. financial regulations including oversight of the systemic risk large financial institutions pose to the economy, new ways for the government to dismantle failed companies and a regulator to oversee financial products for consumers. ∴ Obama reiterated his calls for Congress to act on his regulatory proposals, which he also made in a speech on Wall Street Sept. 13.
- “As I told leaders of our financial community in New York City earlier this week, a return to normalcy can’t breed complacency,” Obama said in today’s address. “Our government needs to fundamentally reform the rules governing financial firms and markets to meet the challenges of the 21st century.”
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