From The US Chamber of Commerce

Obama's Financial Regulation Reform:

7 Things You Need To KnowThe U.S. News and World ReportEver since the credit markets began seizing up in the late summer of 2007, the federal government has worked franticly to prevent a full-scale financial meltdown. The Fed has slashed its benchmark interest rate to as low as zero percent and has welcomed dodgy assets onto its balance sheet. The Treasury Department, meanwhile, has taken the once-unthinkable step of buying large ownership stakes in some of the nation's biggest banks. But now, as the financial system begins to stabilize, President Barack Obama faces a second -- but equally imposing -- task: preventing the next banking crisis from ever occurring. To that end, the administration has pledged to overhaul the nation's outdated financial regulatory structure, which has been blamed for failing to prevent the reckless risk-taking that helped trigger the whole mess."It is an indisputable fact that one of the most significant contributors to our economic downturn was a unraveling of major financial institutions and the lack of adequate regulatory structures to prevent abuse and excess," Obama said Wednesday, as he unveiled his much-anticipated blueprint for regulatory reform. "A regulatory regime basically crafted in the wake of a 20th century economic crisis -- the Great Depression -- was overwhelmed by the speed, scope, and sophistication of a 21st century global economy."