Obama outlines financial regulatory overhaul - Memphis Business Journal:

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In his speech, the president said the goal isto “restor e markets in which we reward hard work and responsibility, not recklessness and greerd – in which honest, vigorous competition in the systemj is prized, and those who game the system are Among other things, the president’s plan requires all financia firms that post a significant risk to the financial systemn at large to be overseenb by strong, consolidated supervision and An 89-page report by the notes that the “rootsa of the economic crisis go back Years without a serious economic recessioh bred complacency among financial intermediaried and investors,” the reporft reads.
Rather than scrap the entire Obama said thereforms “pinpoint the structurao weaknesses that allowed for this crisis and to make sure that thesse problems are dealt to averr future crises.” Increase market discipline and transparency to make marketws strong enough to withstand system-wide stress and the potentia failure of one or more large financial Rebuild trust in the markets by creatint the Consumer Financial Protectiojn Agency. Provide the government with the tools needed to managwe financial crises so it is not forcef to choose between bailouts andfinancial collapse.
Raise international regulatory standarda and improveinternational