Here's Another Victory for Pres. Obama's Admin: Historic Financial Overhaul Signed to Law (166 hits)
WASHINGTON – Reveling over a new milestone in his presidency, a triumphant Barack Obama on Wednesday signed into law the most sweeping overhaul of lending and high-finance rules since the Great Depression, adding safeguards for millions of consumers and aiming to restrain Wall Street excesses that could set off a new recession.
The president's signing ceremony capped nearly two years of intense debate over how to avoid a recurrence of the 2008 financial meltdown that buckled the U.S. economy and has left sharp, lasting imprints on the nation's politics and in Americans' homes.
In a heated midterm election season that has put a dent in his public support, Obama sought to put the complex law in pocketbook terms. Emphasizing provisions that guard borrowers from abusive lenders, he claimed "the strongest financial protections for consumers in the nation's history."
