The U.S. Senate takes on financial regulation reform

The battle over regulating the financial markets is heating up this week, as President Obama gets ready to hit the road to urge support for a Senate bill to increase federal oversight of big banks.

Watch Obama’s weekly address or read the full transcript of his remarks about reform on Wall Street here.

U.S. Senate Republican Leader Mitch McConnell opposes a $50 billion fund proposed in the bill, saying it would make another government-funded bank bailout inevitable.

Read Sen. McConnell’s response to Obama’s address.

WTTW’s Carol Marin examines the looming fight on Capitol Hill.

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One response to “The U.S. Senate takes on financial regulation reform”

  1. Jim Smitzer says:

    reallly, polling whether financial regulation reform is necessary? that is like asking if you think the drug war is a failure or healthcare should be universal… oh, wait, all of these issues are controversial subjects now aren’t they?

    Well they should not be– maybe a more tangible poll would be: do you think it’s time the South secedes from the Union?

    They fought the Social Security Act, Civil Rights, desegregation, healthcare reform, and now they are fighting financial regulation reform… why the he11 do we need them?

    Let them run their own country, where they can elect Sara Palin for President, and run their economy off of pure capitalism and free market mayhem. We’d see where that gets them. We’d then be building our own wall along the Mason-Dixon line to keep those capitalist illegals from coming over to a country that actually functions.