Sunday, 4 March 2012

Obama signs US financial overhaul into law

A triumphant Barack Obama signed into law on Wednesday the most sweeping overhaul of lending and high-finance rules since the Great Depression. The legislation adds safeguards for millions of consumers and aims to restrain Wall Street excesses that could set off a new recession.

The president's signing ceremony capped nearly two years of intense and partisan debate over how to avoid a recurrence of the 2008 financial meltdown that buckled the U.S. economy and left sharp, lasting imprints on U.S. politics and in Americans' homes.

"Because of this law, the American people will never be asked again to foot the bill for Wall Street's mistakes," Obama …

No comments:

Post a Comment