Obama Says Need For Financial Reform Urgent

WASHINGTON -- President Barack Obama says the financial crisis that triggered the recession could have been avoided if Wall Street firms were more accountable, and their dealings more transparent.

In his weekly radio and Internet address, Obama says we need reforms, including stronger consumer financial protections, new transparency on financial dealings like derivatives, a closing of loopholes, and new power for shareholders.

He also wants new rules to make sure that big banks and financial institutions pay for the bad decisions they make not taxpayers.

But Obama says special interests are waging a relentless campaign to thwart even basic, common-sense changes.

He says every day we don't act, the same system that led to bailouts remains in place.


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Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Obama Snake Oil co Location: Washington on Apr 24, 2010 at 02:39 PM
    Yep NS, 700 million, just before Obama came out with his 783 billion dollar bill. Your timing is wrong and you decimals...are out a bit. Lies? Hmmmm, are you referring to the ones Obama tells everyday and the ones Glenn denies since he doesn't watch Fox and other networks? Hmm, misguided fools. Glenn, there is no hope for NS, she is yellowdog....so you choose not to search for facts and drink the koolaid...you yellowdog too or just misguided? Being young and stupid is no excuse for posting nonsense, thats NS's job.
  • by Glenn Location: Greenville on Apr 19, 2010 at 05:02 PM
    NS.....don't be so hard on OSOC he worships Fox news, I noticed he never makes comments that are fair and balanced, always the same know-it-all negative opinions. I believe his is really JOE THE PLUMBER.
  • by Anonymous on Apr 19, 2010 at 10:22 AM
    Financial Reform is coming but it wont come until November when the Democrats are voted out.
  • by NS Location: Greenville on Apr 19, 2010 at 07:03 AM
    Snake Oil's insistence that Obama signed the bail-out bill is just proof of how unfair the blame has been. Anything and everything you can blame on him and not take the responsibility for has been said and done. It proves how many lies have been told about this president.
  • by McArthur Park on Apr 18, 2010 at 09:42 PM
    You csn bet your sweet bippy that ACORN is not dead. The thieves will just open up under a new name. Follow the leaders and Who Obama gives the housing money to and VOILA, you will have found the new and improved ACORN!!
  • by NS Location: Greenville on Apr 18, 2010 at 05:52 PM
    OSOC: The bill was signed on Oct.3, 2008. Now, you might be "pretty sure" Obama was already in office, but you would be ....wrong!
  • by NS Location: Greenville on Apr 18, 2010 at 05:46 PM
    OSOC-The bail-out happened before the election-Bush signed that bill! Don't you remember? McCain was going to miss the debate because of the emergency? You can be "pretty sure" all you want to, but you need to check the facts!
  • by Anonymous on Apr 18, 2010 at 03:27 PM
    Barlow, I'm sure half of those were politicians. I'm sure Rangel had some in there.
  • by Anonymous on Apr 18, 2010 at 02:48 PM
    He believes wasting obscene amounts of our money to support all his 'getaways' and horribly dressed wife are urgent too. He is a liar. Can not believe a word the terd says.
  • by Anonymous on Apr 18, 2010 at 10:25 AM
    When the government starts spending money responsibly, then I will care if people pay taxes or not. Right now, the government does not and has not for many years, acted in a responsible manner with the money they force people to give them, I say, let the people keep it. Less government!
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