Obama says US economy doomed without finance reform
April 22nd, 2010
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President Barack Obama said Thursday that the United States was doomed to repeat its economic crisis if his financial reform bid failed, warning a free market was not a license for unfettered corporate greed.
The president, in advance excerpts of a speech he was due to give later in New York, the epicenter of US high finance, sent a tough message to Wall Street financial barons, American voters and Republicans who oppose his plans.
He recalled how he had visited the historic college at Cooper Union, where he will speak on Thursday, during his 2008 election campaign to warn of the dangers of corporate excess.