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Obama to Sign Financial Reform Bill Next Week

07/16/2010 7:27 pm 0 comments

President Barack Obama closed out the week with two positive accomplishments: He got long-sought new Wall Street rules approved and the Gulf of Mexico oil spill plugged, at least temporarily.

But he also faced criticism from the business community over whether Democratic legislation will put a stranglehold on job creation. He also heard complaints from Democratic allies over his spokesman’s comment that they could lose control of the U.S. House of Representatives in November 2 elections.

White House senior adviser David Axelrod and economic adviser Diana Farrell told a conference call with reporters that consumers will gain from a broad overhaul of Wall Street regulations that passed the U.S. Congress on Thursday.

Obama is to sign the reform bill next week, less than two years after a Wall Street meltdown that propelled the country into the worst financial crisis since the Great Depression.

To read this article in its entirety visit Reauters.

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