Obama presses for financial industry overhaul
Posted at: 10/20/2009 5:35 PM
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(AP) NEW YORK - President Barack Obama is asking the financial industry to support his push for changes he says would help prevent another economic crisis and would be good for the country in the long run.
Obama made his plea Tuesday night a Democratic Party fundraiser in New York City, speaking to donors who paid $30,000-per-couple to hear him just two weeks before the Nov. 3 elections.
Obama defended administration efforts to bail out the financial industry, calling it unpopular but the right thing to do.
Now, he says the right thing for the industry to do would be to support the changes he has proposed, including creating a federal agency to protect consumers.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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