Saturday, 26 June 2010

Reform Bill Holds Wall Street Accountable to People: Obama

THE SYDNEY MORNING HERALD: WASHINGTON – US President Barack Obama is close to winning the top three priorities on his legislative checklist, even as recession-weary Americans give him some of the lowest approval ratings of his presidency.

The US Congress has approved the most sweeping overhaul of US financial regulation since the Great Depression, just three months after passage of Mr Obama's landmark healthcare legislation.

Less than a month after taking office, Mr Obama signed into law one of the biggest economic-rescue efforts in US history.

Mr Obama said on Friday the financial overhaul will hold Wall Street ''accountable'' to the American people.

''We are poised to pass the toughest financial reform since the ones we created in the aftermath of the Great Depression,'' he said at the White House before leaving to attend international economic summits in Canada. >>> Veronica Smith | Sunday, June 27, 2010