Barack Obama, Financial Overhaul | featured news

The U.S. is destined to endure a new economic crisis that sticks taxpayers with the bill unless Congress tightens oversight of ...

President Obama's top economic adviser said Sunday he believes Congress will pass new oversight rules for the financial industry. Lawrence Summers also said putting even more Americans back to work is a White House "preoccupation."

In his weekly radio and Internet address, President Obama said that Congress needed to enact reforms to protect consumers, keep banks strong and safeguard the U.S. economy.

President Barack Obama singled out financial institutions for causing much of the economic tailspin and criticized their opposition to tighter federal oversight of their industry....

The House of Representatives was expected to approve the biggest changes in financial regulation since the Great Depression on Friday, marking a win for the Obama administration.

President Barack Obama on Tuesday embraced a House bill that would give the government unprecedented power to seize bank holding companies and other large financial firms teetering on the brink of collapse and stick their competitors with the cost....