Obama Proposes Financial Regulatory Overhaul, Create New Oversight Council

In a move spurring controversy and criticism, President Barack Obama today proposed the biggest financial regulatory overhaul since the Great Depression, recommending new executive powers and a new government regulatory agency. Obama said that the nation's economic problems were tied to a "cascade of mistakes and missed opportunities" and called for a new foundation that would house "strong, vibrant financial markets" to protect the nation from another breakdown. "It is an indisputable fact...Full Story
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