President calls for Wall Street reform on anniversary of financial meltdown - Spokane, North Idaho News & Weather KHQ.com

President calls for Wall Street reform on anniversary of financial meltdown

Posted: Updated:
WASHINGTON. - A year after Lehman Brothers collapsed and started the tsunami that crashed over the U.S. economy, President Obama is pushing for tougher financial regulation on Wall Street.

"I want everybody here to hear my words: We will not go back to the days of reckless behavior and unchecked excess at the heart of this crisis," he said during a much heralded speech on Monday.

The president wants Congress to get stalled financial legislation moving again, but mostly he wants to remind the nation where we've been in the last year.

"Although I will never be satisfied while people are out of work and our financial system is weakened, we can be confident that the storms of the past two years are beginning to break," he said.

The president wants to begin winding down the government's involvement in the financial sector, while leaving behind a tougher regulatory firewall with the Federal Reserve taking on broad new powers.

The plan would also create a new consumer protection agency.

"I think it actually has more political than economic significance," says economist Greg Ip. "A lot of the powers that this agency would have are already resident in the existing regulators that we have."

Meanwhile, a new Associated Press poll shows seven in ten Americans fear the government hasn't taken the steps to prevent another meltdown.
  • Most Popular StoriesMost Popular StoriesMore>>

  • Vehicle goes over embankment at High Drive & 33rd, one person dead

    Vehicle goes over embankment at High Drive & 33rd, one person dead

    Monday, October 22 2018 2:56 PM EDT2018-10-22 18:56:45 GMT

    SPOKANE, Wash. - Spokane Police say one person has died after driving over the embankment near High Drive and 33rd.  The victim hasn't been identified.  Crews will be working in the area for the foreseeable future so avoid the area if you can.  The cause of the crash is under investigation. 

    >>

    SPOKANE, Wash. - Spokane Police say one person has died after driving over the embankment near High Drive and 33rd.  The victim hasn't been identified.  Crews will be working in the area for the foreseeable future so avoid the area if you can.  The cause of the crash is under investigation. 

    >>
  • One man dead, another arrested after shooting near Post Falls

    One man dead, another arrested after shooting near Post Falls

    Sunday, October 21 2018 10:57 AM EDT2018-10-21 14:57:39 GMT

    POST FALLS, Idaho - Kootenai County Deputies arrested a man for involuntary manslaughter after they say he shot and killed another man Saturday evening near Post Falls. Deputies responded to reports of a shooting on Gallatin Way near Post Falls just before 7 pm. Deputies and medical personnel arrived and found a man, identified as Tyler S. Liles, with a single gunshot wound.

    >>

    POST FALLS, Idaho - Kootenai County Deputies arrested a man for involuntary manslaughter after they say he shot and killed another man Saturday evening near Post Falls. Deputies responded to reports of a shooting on Gallatin Way near Post Falls just before 7 pm. Deputies and medical personnel arrived and found a man, identified as Tyler S. Liles, with a single gunshot wound.

    >>
  • PHOTOS: Family treasures stolen from Spokane family

    PHOTOS: Family treasures stolen from Spokane family

    Monday, October 22 2018 8:33 AM EDT2018-10-22 12:33:01 GMT

    SPOKANE, Wash. - Spokane County Sheriff's Deputies continue to investigate a break-in that happened Tuesday morning at approximately 8:08 AM. The victims say precious family treasures were stolen. "I stayed home for a few days after it happened," said Mandie Snyder.

    >>

    SPOKANE, Wash. - Spokane County Sheriff's Deputies continue to investigate a break-in that happened Tuesday morning at approximately 8:08 AM. The victims say precious family treasures were stolen. "I stayed home for a few days after it happened," said Mandie Snyder. "I wanted to stay here. I wanted to stay here and protect my house." Snyder says their Ring doorbell camera captured a man lurking around their property and then kicking their front door several times.

    >>
HD DOPPLER 6i
/