On Wall Street snapped

President Obama Continues Push the Financial Regulation

WASHINGTON, President Barack Obama will urge Congress to not pass up the opportunity to improve the financial system. These are actions that must be done because Wall Street has triggered a crisis

Wall Street is the nickname for the giant U.S. corporations, which generally sell the shares on the New York Stock Exchange, Wall Street. U.S. giant corporations became targets of criticism from various parties because greed will make money without regard to business ethics. Obama to worry, if there is no Builder CO.CC reform, the economic crisis will happen again in the future. In a speech prepared and was read in New York, obama express these concerns."One of the things that most contributed to this recession is the financial sector is experiencing the worst crisis in our generation," said Obama's speech text issued by the White House before recited.

"And the crisis was born from the failure of responsibility from Wall Street to Washington that produced the collapse of financial institutions and almost dragging us to the second great depression," he said.Obama also will call for banks to support the proposed package of financial reform Democrats. One goal is to reduce Obama's speech in order to support the Republican bill on financial reform. Rejection of the Republican camp, spoiling well-known corporations, already melamah. Financial reform is a popular issue and the Democrats believe the issue can help them win the upcoming November congressional elections. The bill seems to get a breath of fresh air due to allegations of fraud at Goldman Sachs of the U.S. Capital Market Supervisory Agency (SEC).

Supervision "hedge fund"

"The lesson is important that we get, do not let the crisis happen. However, this reform will happen if the opportunity was gone," he saidThe bill would also provide a system to solve problems on a nearly bankrupt company. This needs to be prevented to a large disaster, such as the collapse of Lehman Brothers in 2008 and almost bankruptcy of a large insurance company AIG will not be repeated in the future. U.S. finance minister Timothy Geithner said the goal of reform is to avoid the bigger banks, while at the institutions were not thoroughly in taking investment risk. Geithner told ABC that there is resistance to this bill congress. He says, that's the cause of the difficulty of this reform is executed. U.S. Finance Minister also said the government should be able to restrict the illegal actions by the banks. (Reuters)