FUTURE OF WALLSTREET

Patrice Innocenti

A new debate hits the Whitehouse again, first it was healthcare now it's over a financial regulatory reform. President Obama says congress should act to pass new regulations quickly. Obama says, "If we don't change what led to the crisis, we'll doom ourselves to repeat it."


Facing opposition from the republican party, right wing lawmakers said the democrats are proposing a plan that would give the Federal Government too much control over the financial industry.


Press Secretary Robert Gibbs said President Obama will travel to New York City Thursday for a planned speech at Cooper Union to address "the need to create new rules for Wall Street and call senate to action on financial regulation." This will be President Obama's second visit to Cooper Union.

This news comes after Goldman Sachs was accused of fraud last week. Analysts are predicting more Wall Street investigations to come.