April 14th, 2010
12:26 PM ET
12 years ago

Obama hopeful for quick financial reform bill

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2010/images/04/14/art.obama.summit.jpg caption ="President Obama is confident that a bipartisan financial reform bill will be passed."]
Washington (CNN) – President Barack Obama said Wednesday he is sure that a bipartisan financial reform bill can be passed.

During a meeting with congressional leaders on Wednesday, Obama told reporters that that he"is confident that we can work out an effective bipartisan package that assures that we"ll never have [banks that are] too big to fail again, that consumers are adequately protected."

Obama said he wants to move on a financial regulatory reform bill quickly and planned to discuss the matter with the group of bipartisan congressional leaders assembled at the White House.

The president also said he plans to discuss the vacancy at the Supreme Court and the ratification of the S.T.A.R.T., among other subjects.

Filed under: President Obama
soundoff (17 Responses)
  1. Dutch/Bad Newz, VA

    I'm hopeful as well Mr. President, but Mitch and gang are determined to stop this bill in it's tracks. It looks like we'll have to go the reconciliation route....AGAIN. Republicans are not going to approve of this bill because it's an election year and all of their big campaign contributors are from Wall Street. With Healthcare passed, if republicans want to block regulation against Wall Street, they can be my guest. They're committing political suicide.

    April 14, 2010 12:31 pm at 12:31 pm |
  2. Proud to be a Republican

    Doesn't obama screw things up enough w/o more stupid legislation...

    April 14, 2010 12:32 pm at 12:32 pm |
  3. Bob in Pa.

    Everything with BOzo has to be quick. So quick that no one is allowed to actually analyze the legislation and formally debate it. Overhaul of the Financial industry need to be a studied and modeled process. neither Members of Congress, their Lawyers or the President himself are experts in this topic and should not profess to be. And does the system really need "overhauled" ? Maybe we should start with tweeks to current policies.

    April 14, 2010 12:37 pm at 12:37 pm |
  4. Mikey

    Let's also hope for well thought out, written, and implemented.

    April 14, 2010 12:43 pm at 12:43 pm |
  5. get real

    Good luck with that Mr. President. It seems that the Republicans are fine with letting the big banks run wild and free of all regulations. They'd rather see you (read us) fail than to work for what's needed to prevent another financial disaster.

    April 14, 2010 12:44 pm at 12:44 pm |
  6. Ridgeway

    Yep, he and his henchmen can pass new laws allowing the fed to take over more of the American economy. He's a Commie just like his daddy.

    April 14, 2010 12:45 pm at 12:45 pm |
  7. LacrosseMom(the real one)

    The is will a fight, I am sorry to predict. Because the Republicans who are the supporters of Big Business, Big Pharma, Big Oil, Wall Street & the Banks (after all it was the Bush people who gave out the biggest BAILOUT) will ...... obstruct....... lie....... fight....... etc., to prevent any real reform on Wall Street. So the greed will continue.

    Remember America, it was the Republican controlled Congress who deregulated and they will not want regulations back!

    April 14, 2010 12:52 pm at 12:52 pm |
  8. Claudia, Houston, Tx

    Keep up the good work President Obama. The financial reform bill will pass and the Republicans will again attempt to take credit but we Americans know whose working for us and not against us.

    April 14, 2010 12:52 pm at 12:52 pm |
  9. Ken in NC

    Don't count on it Mr President. If you wanted quick passage to financial reform you should have spoken out in opposition to it. That way all Republicans would have come out in support of it and you would have gotten what you wanted.

    You must remember Mr President , that anything you want, you must speak out against it as Republicans are going to be in opposition to everything you want to do.

    April 14, 2010 12:54 pm at 12:54 pm |
  10. James Mapunda

    Obama is a more Reformist than a Socialist within a Capitalistic Society.

    April 14, 2010 12:57 pm at 12:57 pm |
  11. Rush is to far left

    Here is some financial reform:
    1. Stop giving money to the welfare parasites.
    2. Send all illegal's back to whatever country they came from, yes an initial cost but savings in the long run. Leaving jobs available for the welfare parasites. Maybe they can then pull their own weight and be worth something in the world.
    3. Repeal the recent health care reform bill and do it right. Fix only the broken parts.

    April 14, 2010 01:01 pm at 1:01 pm |
  12. Holding Up A Mirror

    There is no reason that Congress can't finally do some work instead of talking trash in front of microphones.

    What is it with these Republicans that don't want to work for their paychecks?

    April 14, 2010 01:02 pm at 1:02 pm |
  13. John D.

    This smells like healthcare reform all over again! Esecially with Dodds name all over it. Can you smell the CORRUPTION?

    the left always tries blaming Bush when it was CLINTON, DODD and FRANK who created this whole meltdown but they like to not talk about that. Too many facts!

    April 14, 2010 01:08 pm at 1:08 pm |
  14. awaitingliberalizationbyCNN

    If he is anxiouis there must be something in it that will screw the people who actually work and pay taxes. He was anxious for the stimulus, the TARP and the health insurance reforms, all of which screwed the actual taxpay bigtime while benefitting the dope smokers, his natural constituency.

    April 14, 2010 01:23 pm at 1:23 pm |
  15. SLM

    All they have to do is quit forcing banks to give loans to people who can't pay them back. A huge part of the housing crisis is the fault of Democrats like Barney Frank, pushing banks to hand houses out like candy on halloween, assuming people would actually be responsible enough to pay the loan back. Typical democrat....shifting blame and putting up smoke screens.

    April 14, 2010 01:32 pm at 1:32 pm |
  16. Torch

    I think a better idea would be to draft a bill that protects Americans from the Obama Adminstration.

    April 14, 2010 01:48 pm at 1:48 pm |
  17. Henry Miller, Libertarian

    "Obama told reporters that that he"is confident that we can work out an effective bipartisan package..."

    Unfortunately, what Obama means when he says "bipartisan" is that he and Nancy Pelosi agree with each other.

    April 14, 2010 02:37 pm at 2:37 pm |