Barack Obama yesterday sought to capitalise on the anniversary of the bankruptcy of Lehman Brothers to urge Wall Street to co-operate with Congress to enact the “most ambitious overhaul of the financial system since the Great Depression”.
Mr Obama’s remarks, intended to breathe life into the administration’s regulatory reform proposals on Capitol Hill, where there is growing scepticism they will be enacted by the end of the year, were also intended to reassure Americans that the era of big government bail-outs was drawing to a close.
Amid polls showing growing taxpayer alarm about rising government debt and deficits, almost every White House initiative is now couched in the language of fiscal responsibility.
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