President Obama’s Push for New Regulatory Powers

Jun 17, 2009 11:02am

In a move already spurring controversy and criticism, President Barack Obama today will propose the biggest financial regulatory overhaul since the Great Depression, recommending new executive powers and a new government regulatory agency.

“The goal is to integrate the system, make sure that there are not any gaps, and to make sure that we have an updating of the regulatory system that worked back in the 1930s, but doesn’t work with the kinds of financial instruments and the kinds of global capital markets that exist today,” the president said in an interview with Bloomberg News’ Al Hunt. “And we’re confident that we’ve struck the right balance.”

We took a deeper look at the new push HERE.

– jpt

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