Preventing the financial
fraud that led to meltdown.
|Did nothing to regulate banks despite the fact they clearly needed to be regulated.||
Obama's financial reform was widely recognized as being weak
tea and would have not stopped the financial meltdown had it been in place.
President Barack Obama went to Wall Street to "close the deal" on the regulatory reform bill pending in Congress. He did about as well as possible pitching an almost incomprehensible 1,300-page legislative package that addresses some of the symptoms of the financial crisis but almost none of its causes. The bill pending in the Senate would not have prevented the recent financial crisis, and it will not prevent the next one.Citation.
Wallstreet's lobbyist money paid off apparently.