White House: New Wall Street rules are overdue

WASHINGTON, April 14 (BestGrowthStock) – The White House said on
Wednesday accountability for Wall Street was “long overdue” and
lashed out at the financial industry for what the
administration said is an effort to weaken proposed legislation
on financial reform.

President Barack Obama met with top Democratic and
Republican lawmakers at the White House and told them he wanted
to seek bipartisanship but that did not mean he was willing to
accept “bad policy.”

“He specifically pushed attendees on derivatives and the
recent effort by the financial industry to pressure the Senate
to weaken oversight over the same financial products that led
to the near collapse of AIG,” White House spokesman Robert
Gibbs said in a statement after the meeting.

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(Writing by Caren Bohan; Editing by Matt Spetalnick)

White House: New Wall Street rules are overdue