June 26th, 2010
10:02 AM ET
12 years ago

Obama calls for final passage of Wall Street reform

(CNN) – President Obama is calling on Congress to pass the financial reform bill Democrats finalized earlier in the week.

“Getting this far on Wall Street reform hasn’t been easy. There are those who’ve fought tooth and nail to preserve the status quo. In recent months, they’ve spent millions of dollars and hired an army of lobbyists to stop reform dead in its tracks,” Obama said in his weekly radio and internet address Saturday.

“But because we refused to back down, and kept fighting, we now stand on the verge of victory. And I urge Congress to take us over the finish line, and send me a reform bill I can sign into law, so we can empower our people with consumer protections, and help prevent a financial crisis like this from ever happening again,” he also said.

Filed under: President Obama
soundoff (18 Responses)
  1. Anonymous

    What's sad is the loopholes it has left open. Fees for using a credit card? Businesses consider debit cards a "credit card" so now we will pay more for using a technology that has been forced down our throats for the passed 3 decades.
    Much of th bill is good, but like all good things in DC party in-fighting has taken the real teeth out the reform before it ever hits the streets.
    Democrats should have gone in like their buuy counter-party did in 1994 and rammed through every bit of legislation they wanted, the way they wanted it and then worried about reelection.
    We voted for change- we got job-fearing politicians. Say what you want about Pelosi- she stands firm despite all the name calling.

    June 26, 2010 10:19 am at 10:19 am |
  2. Keith in Austin

    Two of the sleaziest men in Congress are the authors of this legislation! Dodd and Frank have done more harm to the American economy than most others because of their mandates supporting Prime Mortgage loans to deadbeats causing a total collapse of the Real Estate Industry!

    When will Liberal politicians especially the Supreme Socialist, Barry Hussein Soetoro stop killing Capitalism with their unquenchable thirst for power, control and love of Government takeover of our lives? Pathetic but thankfully, their days are numbered!

    June 26, 2010 10:27 am at 10:27 am |
  3. Go USA!

    I hope it passes, I'm tired of the GOP and wall Street screwing the middle class

    June 26, 2010 10:31 am at 10:31 am |
  4. ib

    Obama only agrees to sign bills that favor his agenda. No matter how much hardship and how much it raises the unemployed he will sign something that only pertains to promoting his agenda. Example keeping the oil platforms shut down and look how many people are out of work because of it. If we were allowed to drill in shallow water and on land we wouldn't be in this mess and yes we have to have oil and coal until the alternative energy forms are available which they are not right now.

    June 26, 2010 10:34 am at 10:34 am |
  5. Paul H

    Yea subtle changes to Wall street, and more money in Washington.

    June 26, 2010 10:34 am at 10:34 am |
  6. Hammerer

    obama has made clear that the "change" he promised during his campaign is to take the US into ONE WORLD GOVERNMENT.

    June 26, 2010 11:05 am at 11:05 am |
  7. Willy Brown

    November can't come fast enough.

    June 26, 2010 11:14 am at 11:14 am |
  8. German,Irish,American

    Once again the Democrats insist we pass this bill so we can see what is in it. Then the ignorant President Obama will sign it without having any idea what is in the bill. We have a President who is to stupid to read and comprehend a bill he signs. The media will tell us how "brilliant" this President is, yet he was wrong on his prediction of the jobs created by the stimulus bill, Palin was right on her prediction, he was wrong on healthcare saving money, Palin was right on her prediction. Yet Obama is the "smart" one? The Obama/Community Organizer experiment is proving to be a huge disaster.

    June 26, 2010 11:18 am at 11:18 am |

    blah blah blah... does anyone listen to this bloviator any more?

    June 26, 2010 11:24 am at 11:24 am |
  10. Bob in PA

    The man is uncomfortable in saying the word "victory" in the context of war, but when it comes to claiming governments rights over companies, individuals, and their money he has no problem. Nov. 2012 can't come soon enough.

    June 26, 2010 11:27 am at 11:27 am |
  11. Bob in PA

    Congress should be spending its time on a single topic right now. Insuring that all possible resources are put into play to clean up the oil in the Gulf. Because of this Congress and Obama's inaction we will be facing the biggest ecological disaster in recorded history. The coming tropical storms will spread this slick throughout the oceans. Think of the ripple effect when no US fisherman in the southeast or maybe the entire east will be able to ply their trades. The food supply will shrink, prices on all food stocks will skyrocket. The perfect storm for the communists in Obamas administration..

    June 26, 2010 11:37 am at 11:37 am |
  12. Liberal4Obama

    Another major accomplishment for who will be remembered as one of the greatest presidents in US history.

    June 26, 2010 11:41 am at 11:41 am |
  13. JES

    Just another order from you as our Dictator we will all suffer but that desn't seem to bother you as long as you get what you want.

    We don't need more government we need less and term limits on every elected person in the US.

    We need more controls on our elected people here.

    It would be great if we could fix our own house (like balance th budget to start with) before we try telling other people what to do. Lead by example not force I feel like we are headed towards a Dictator type of government and not free enterprise.

    We don't need any lifetime appointments because just like no term limits they don't know when to retire.

    June 26, 2010 11:48 am at 11:48 am |
  14. ib

    By all means do it Obama needs more controll over things in this country so he can get his agenda passed.

    June 26, 2010 11:57 am at 11:57 am |
  15. Meka

    Thank you President Obama...

    June 26, 2010 12:35 pm at 12:35 pm |
  16. Patty Patriot

    NO WALL STREET REFORM – just one more loss of our freedoms which obama is already trying to destroy our republic and our constitution.

    June 26, 2010 12:43 pm at 12:43 pm |
  17. stevegee

    How much more "change" can we afford?
    Vote Republican.

    June 26, 2010 12:56 pm at 12:56 pm |
  18. Discernment


    Another hard job done by a person the Republicans call naive and inexperience.

    June 26, 2010 01:06 pm at 1:06 pm |