Finish monetary obama prods congress overhaul to

Washingtonpresidentbarackobamaproddedcongressonsaturdaytosendhimfinancialoverhaullegislation,sayingthelandmarkcompromiselawmakershavecraftedwouldbeaboontoconsumersandhelpdeflectthenextglobalfinancialcrisis."We"restilldiggingourselvesoutofaneconomiccrisisthathappenedlargelybecausetherewasntstrongenoughoversightonwallstreet,"obamasaidinhisweeklyradioandonlineaddress."Wecantbuildastrongeconomyinamericaoverthelong-runwithoutendingthisstatusquo,andlayinganewfoundationforgrowthandprosperity."Healsopressedlegislatorstosendhimanotherproposaltheyomittedfromthecompromisefinancialpackageataxonbigbankssupporterssaywouldrecoupsomeofthebillionstaxpayersspenttobailouttheailinginstitutions.House-senatenegotiatorsapprovedtheoveralldealfriday,anddemocraticleadershopetomuscleitthroughcongressnextweek.Thebillcreatesanindependentagencytomonitormortgagesandotherconsumerfinancialproducts,restrictstradingincomplicatedderivativesthathelpedignitethefinancialmeltdownandforcesfailinggiantfirmstoliquidate,makingitthewidestreachingrevampofthenationsfinancialrulessincethegreatdepression."Wenowstandonthevergeofvictory,"thepresidentsaid.Republicanssaythemeasureignoresfanniemaeandfreddiemac,themortgagegiantswhohavereceivedhugefederalbailoutsandwhosebadloanshelpedtriggerthehousingandeconomicmeltdowns.Intheirweeklyaddress,theyarguedthatobamamustfocuson"creatingmorejobs,notmoredebt,"byembracinggopeffortstocancelunspentwallstreetbailoutfundsandstimulusmoneyandtohelpsmallbusinesses."Insteadofgrowinggovernment,weneedtorestarttheengineofeconomicgrowth,"saidrep.Paulryan,r-wis.Obamasaddresscamewiththepresidentintoronto,canada,foraweekendeconomicmeetingofworldleaders.Theirsessionisaimedatfindingwayscountriescancoordinatetheirpoliciestohelpavoidafutureeconomiccollapse.Thefinancialmeasureisnearingenactmentatatimewhenpollsshowwidespreadpublicangeratbankersandwallstreet,whoarewidelyblamedforirresponsiblepracticesthathelpedcausetherecession."Gettingthisfaronwallstreetreformhasntbeeneasy,"obamasaid,playingonthatpopulisttheme."Therearethosewho"vefoughttoothandnailtopreservethestatusquo.Inrecentmonths,they"vespentmillionsofdollarsandhiredanarmyoflobbyiststostopreformdeadinitstracks."___online:obamaaddress:http://www.Whitehouse.Govgopaddress:http://www.Youtube.Com/republicanconference Marine absorbs IED blast walks away�

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