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Video: Obama and Economic Reform

April 18, 2010

President Obama hosts a public meeting of the Presidents Economic Recovery Advisory Board. Recently, he has chided Wall Street bankers for their “reckless practices,” pressing for tighter regulations designed to avert another financial crisis. President Obama sees himself as a champion of change as he fights “battalions of financial industry lobbyists” and the “withering forces” of the economic elite. He is advocating “a common-sense, reasonable, nonideological approach” to strengthen consumer protection, limit the size of banks, the risks they can take while imposing rules for greater transparency in derivatives and other complex securities. He also wants more scrutiny for executive compensation and bonuses.

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