Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Ebola in Nigeria: First death outside of Lagos

Read more

AFRICA NEWS

Niger : Top Oppostion figure to be questioned in baby trafficking scandal

Read more

AFRICA NEWS

Liberia: President dismisses top officials who ignored call back

Read more

MEDIAWATCH

The deleted tweets of Manuel Valls

Read more

DEBATE

How to Stop Ebola: WHO Says Cases Could Exceed 20,000 (part 2)

Read more

DEBATE

How to Stop Ebola: WHO Says Cases Could Exceed 20,000

Read more

WEB NEWS

'Ice Bucket Challenge' angers anti-abortion activists

Read more

#TECH 24

Tomorrow's Transport Today

Read more

FOCUS

Mothers and children leaving Honduras at all costs

Read more

  • French businesses ‘hoping for a new Thatcher’

    Read more

  • UN says 43 peacekeepers captured in Golan Heights

    Read more

  • Peru seizes record 6.5 tonnes of Europe-bound cocaine

    Read more

  • Russian troops have entered Ukraine, says Kiev

    Read more

  • Pakistan army to mediate between PM, protesters

    Read more

  • PSG face Barcelona, Ajax in tough Champions League draw

    Read more

  • In pictures: Billions of locusts invade Madagascan capital

    Read more

  • Brad Pitt and Angelina Jolie say ‘I do’ in France

    Read more

  • Erdogan sworn in as Turkey's president

    Read more

  • Assad cannot be partner in fight against terrorism, says Hollande

    Read more

  • New Ebola case in Nigeria brings death toll to 1,552

    Read more

  • Video: 'Neither Baghdad nor the US can defeat the Islamic State'

    Read more

  • Platini will not run against Blatter for FIFA presidency

    Read more

  • Air France pilots announce week-long strike in September

    Read more

  • New French economy minister takes swipe at 35-hour work week

    Read more

  • Uzi shooting by 9-year-old rekindles gun debate

    Read more

  • Mother of American journalist asks IS leader for his release

    Read more

  • UN probe accuses Syrian regime, Islamists of ‘crimes against humanity’

    Read more

  • Uruguayans sign up to grow marijuana at home

    Read more

Americas

Obama praises US lawmakers for financial reform bill

Text by News Wires

Latest update : 2010-06-25

President Barack Obama on Friday praised lawmakers for agreeing on a historic overhaul of financial regulations that he called the "toughest consumer financial reforms" in US history.

AFP - US President Barack Obama on Friday said a sweeping financial reform bill agreed by lawmakers after marathon talks would hold Wall Street accountable and help prevent another economic meltdown.

"We are poised to pass the toughest financial reform since the ones we created in the aftermath of the Great Depression," Obama said at the White House, boosted by the deal as he headed to global economic summits in Canada.

"Early this morning the House and Senate reached an agreement on a set of Wall Street reforms that represents 90 percent of what I proposed when I took up this fight."

The 20-hour final talks produced a merged bill that must be voted on by the House of Representatives and the Senate next week, and will hand Obama a famous political victory at a tough political moment of his presidency.

Asked whether the Democratic-led Congress would pass the final bill, Obama said "You bet."

"We've seen what happens when there's inadequate oversight and insufficient transparency on Wall Street.

"The reforms making their way through Congress will hold Wall Street accountable so we can help prevent another financial crisis like the one that we're still recovering from."

Date created : 2010-06-25

COMMENT(S)