Wall Street likely to give Obama chilly reception
April 22nd, 2010
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As President Obama heads to New York City on Thursday to press for a major overhaul of financial rules, he faces stiff opposition by Wall Street to the toughest proposed regulatory crackdown since the Great Depression.
A Senate committee on Wednesday approved the final piece of the legislation: strict new oversight of the murky and unregulated market for complex financial derivatives. It is one of three significant provisions that rile Wall Street the most.