WASHINGTON — President Barack Obama prodded Congress on Saturday to send him financial overhaul legislation, saying the landmark compromise lawmakers crafted last week would be a boon to consumers and help deflect the next global financial crisis.
“We’re still digging ourselves out of an economic crisis that happened largely because there wasn’t strong enough oversight on Wall Street,” Obama said in his weekly radio and online address. “We can’t build a strong economy in America over the long run without ending this status quo and laying a new foundation for growth and prosperity.”
He also pressed legislators to send him another proposal they omitted from the compromise financial package — a tax on big banks that supporters say would recoup some of the billions taxpayers spent to bail out the ailing institutions.
The Associated Press
