Financial Regulatory Forum

Obama creates U.S. task force to fight financial crime

November 18, 2009

U.S. Attorney General Eric Holder speaks during  a news conference at the Justice Department in Washington to announce the establishment of a task force to investigate and prosecute financial crimes connected to the past year's financial crisis and to try to deter future fraud, November 17, 2009.  At rear is U.S. Treasury Secretary Tim Geithner.        REUTERS/Kevin Lamarque (UNITED STATES BUSINESS POLITICS CRIME LAW) By James Vicini and Jeremy Pelofsky
WASHINGTON, Nov 17 (Reuters) – The Obama administration created a new task force on Tuesday to crack down on financial fraud, an increasingly important political issue after a spike in mortgage scams and big Wall Street trading scandals.

INTERVIEW – Obama says will raise currency with China

November 9, 2009

U.S. President Barack Obama answers questions during an interview with Reuters in the Oval Office at the White House in Washington, November 9, 2009.   REUTERS/Jim Young   (UNITED STATES POLITICS) By Caren Bohan and Alister Bull
WASHINGTON, Nov 9 (Reuters) – U.S. President Barack Obama said on Monday he plans to raise the issue of the yuan currency with Chinese officials when he meets with them in Beijing next week.

Obama administration praises early Senate financial bill

November 4, 2009

U.S. President Barack Obama (R) attends a fundraiser for U.S. Senator Chris Dodd (D-CT) in Stamford, Connecticut, October 23, 2009.    By Karey Wutkowski
WASHINGTON, Nov 3 (Reuters) – The chairman of the Senate Banking Committee is poised to release a draft bill on financial regulatory reform that meets many of President Barack Obama’s core goals, but it is unclear if it will gain any Republican support, an administration official said on Tuesday.

U.S. financial reform faces Republican challenges

November 2, 2009

By Kevin Drawbaugh and Rachelle Younglai

WASHINGTON, Nov 2 (Reuters) – Key U.S. senators are still deeply divided on basic financial regulation reforms, making it unlikely a bill expected soon from Senate Democrats could become law this year, analysts said on Monday.

Obama readies tougher ‘too big to fail’ strategy

October 26, 2009

U.S. President Barack Obama (R) attends a fundraiser for U.S. Senator Chris Dodd (D-CT) in Stamford, Connecticut, October 23, 2009.  REUTERS/Jason Reed   (UNITED STATES POLITICS)   By Kevin Drawbaugh
WASHINGTON, Oct 26 (Reuters) – The Obama administration within days will move to get tougher with large financial firms that are in trouble by urging Congress to let the government seize control, wipe out shareholders, boot management and restructure debts, an administration official said on Monday.

Obama still wants corporation tax reform, despite report

October 13, 2009

U.S. President Barack Obama speaks about tax reform at the White House in Washington May 4, 2009. (File Photo)  REUTERS/Kevin Lamarque WASHINGTON, Oct 13 (Reuters) – President Barack Obama remains committed to reforming international corporate taxation to end “unfair loopholes,” a White House spokeswoman said on Tuesday.
The comment was in response to a front-page article in The Wall Street Journal that said the Obama administration has shelved a plan to raise more than $200 billion in new taxes on multinational companies following complaints from businesses.

ANALYSIS-Obama faces clamor for action on economy

October 9, 2009

By Caren Bohan
WASHINGTON, Oct 8 (Reuters) – As the U.S. unemployment rate climbs toward 10 percent, President Barack Obama is facing a rising clamor from within his Democratic party to take new steps to lift the economy and jump-start job growth. (more…)

US sees broad G20 support for its economic vision

September 25, 2009

Brazil's President Luiz Inacio Lula da Silva (L) is greeted by U.S. President Barack Obama as he arrives at the Phipps Conservatory for an opening reception and working dinner for delegation leaders at the Pittsburgh G20 Summit in Pittsburgh, Pennsylvania September 24, 2009. REUTERS/Chris Wattie (UNITED STATES POLITICS BUSINESS) By Giuseppe Fonte and Caren Bohan
PITTSBURGH, Sept 24 (Reuters) – The United States said on Thursday there was broad support for its vision to build a more stable global economy and crack down on banks’ risky behavior, although G20 countries were still hashing out the details.

Top US lawmakers stress financial reform common points, delay seen

September 22, 2009

U.S. Senate Banking Committee Chairman Chris Dodd (D-CT)(R) and Chairman of the House Financial Services Committee Barney Frank (D-MA) speak after a news conference on Capitol Hill in Washington, November 20, 2008.  REUTERS/Jim Young (UNITED STATES)By Kevin Drawbaugh
WASHINGTON, Sept 22 (Reuters) – The U.S. Congress’ two top legislators on financial reform stressed their points of agreement on Tuesday, despite lingering differences and a prediction from one that the reform debate may be prolonged.