Sen. Corker: 'We're Going to Have a Solid Bipartisan Effort' on Financial Reform

President Obama met with Congressional leaders on Wednesday and urged them to implement reform.

"If there's one lesson that we've learned, it's that an unfettered market where people take huge risks and expect taxpayers to bail them out when things go sour is simply not acceptable," Obama said.

On Wall Street, there is an outcry over what these regulations would mean. The CEO of JP Morgan Chase, which posted a net income of $3.3 billion just for the first three months of this year, says the new regulations would cost his bank alone $2 billion.

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