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Pumped up Obama heads for Wall St

Business Times - 26 Mar 2010


Pumped up Obama heads for Wall St

He is ready to press for immediate legislation to reform the financial sector while resisting Republican pressure

By LEON HADAR
WASHINGTON CORRESPONDENT

IN THE aftermath of their impressive legislative victory in getting the healthcare reform Bill approved in Congress over the weekend, US President Barack Obama and his Democratic allies on Capitol Hill seem to be in a fighting mode.

They have made it clear that they are ready to press for immediate legislation on comprehensive reform of the financial sector's regulatory system. And they are resisting the pressure from Republicans to slow-down the legislative process. Mr Obama and the Democrats hope to complete it even before the November mid-term Congressional election.

The Democratic majority in the House of Representative has already succeeded in getting that legislative branch to pass a bill last December. And on Monday, the action moved to the Senate where the key ba…