White House sees momentum on financial reform

WASHINGTON, April 13 | Tue Apr 13, 2010 6:34pm BST

WASHINGTON, April 13 (Reuters) - The White House said on Tuesday it believed momentum was building for the effort to overhaul U.S. financial regulations and urged opposition Republicans to join the push.

"We hope Republicans in Congress will join us in a constructive conversation about how to move a strong bill forward," a White House official said, a day before President Barack Obama was to sit down with top Democratic and Republican lawmakers to discuss legislation on financial reform.

The official said Obama won't allow a "race to the bottom" on reform and would not allow the bill to be watered down.

(Writing by Caren Bohan; Editing by Jackie Frank)

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Comments (3)
MrSparky wrote:
Hmmm… what’s wrong with the bill that already passed the House? I wonder if he considers auditing the Federal Reserve something that “waters down” the bill.

It certainly would be nice to know who is getting the trillions that the Fed is handing out… especially when you consider the fact that they have a history of gambling our money by helping out their friends, and never telling us about it.

Nevermind the reports of them doing things like giving Saddam Hussein the money to build a nuclear reactor without permission of Congress. For all we know, they could be bailing out Greece. They wouldn’t even have to tell us.

Apr 13, 2010 7:43pm BST  --  Report as abuse
XMarine wrote:
The GOP as usual the party of men and women who sold their souls long ago to corporations.

You have to admire them for getting the poor white trash religious on board with them in their search for power. They are real Americans alright ya all.

Apr 13, 2010 8:01pm BST  --  Report as abuse
Impoverished wrote:
This legislation is long overdue and strikes at the heart of corruption in the financial markets and all of the damage Bush did as President with his reckless deregulation. Americans complain and throw tantrums over the banks and spending, well this is your chance if you have issue with the banks and Wall Street criminals getting away with it. This seriously needed regulation will make alot of shady practices that create our financial problems illegal. Get on board, the window of opportunity for this much welcome and needed change and regulation is open now. Republicans will of course try and block it, they want to keep getting away with their crimes in an environment that Bush created for them all. Remember this too, a vote for more Republicans in November is a vote to let Wall Street crooks and the banks keep getting away with murder and it is a vote to continue to destroy our economy from the bottom up.

Apr 14, 2010 8:02am BST  --  Report as abuse
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