After health care Obama allies target bank reform
Fresh from the landmark victory passing health care reform, President Barack Obama's administration set its sights Monday on sweeping reforms of Wall Street's "too-big-to-fail" banks.
On Monday, Treasury Secretary Timothy Geithner was to address the conservative American Enterprise Institute on the urgent need to reform the banking sector, which dragged the global economy to the verge of collapse.
Later in the day, members of the Senate banking committee were to discuss reforms put forward by its chairman, Christopher Dodd, that would create a powerful consumer financial protection agency and curb risky investments.
Unlike other legislative items on the president's desk -- notably immigration reform and climate change -- banking reform is largely uncontroversial among ordinary Americas.
Comments