President is bullish on reform bill
WASHINGTON (AP) - May 20, 2010 -- President Obama says new Wall Street rules are coming.
He said financial industry lobbyists have failed in their attempt to block a major Wall Street reform bill from coming to a vote.
Speaking in the Rose Garden, Obama heralded a breakthrough for his domestic agenda as the Senate cleared the way for final passage of the financial regulation bill.
The president says that there is more work ahead but that he will ensure the final bill will be effective and responsive.
Obama says lobbyists tried to kill the bill - and then water it down - but those efforts "have failed."
The bill calls for new ways to watch for risks in the financial system and makes it easier to liquidate large financial firms that are failing, among other changes.
president barack obama, u.s. senate, national/world
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