President Obama is meeting with the heads of top banks today; according to Reuters, he will "quiz [them] about developments in the economy and their businesses as his administration seeks broader authority to regulate the financial system." However, the Treasury Department faces a battle with getting those policies passed; the NY Times reports, "Even though [Treasury Secretary] Geithner carefully avoided specific details, laying out mostly broad principles for overhauling the system, financial industry groups are identifying issues they plan to pursue and lining up well-connected lobbyists and publicists to help make their cases." Yesterday, the Dow Jones Industrial Average closed just under the 8,000 mark, at 7,924 points; stock futures suggest the market will open lower, "taking a breather after a week in which equities have surged amid hopes the economy has begun to stabilize," per the Wall Street Journal.
Obama To Meet With Top Banks
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"It puts more of a burden on New York — puts more of a burden on 49 other states."
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