AP - Celebrating signs of a turnaround in the U.S. auto industry, President Barack Obama said Saturday the financial system must be overhauled to prevent a repeat of the economic crisis that pushed carmakers to the brink.
Celebrating signs of a turnaround in the U.S. auto industry, President Barack Obama said Saturday the financial system must be overhauled to prevent a repeat of the economic crisis that pushed carmakers to the brink.
President Barack Obama on Saturday cited encouraging signs of an auto industry rebound as he promoted stronger financial rules that he said would help prevent a repeat of the crisis that pushed carmakers to the brink.
OTTAWA — Ontario’s auto sector absorbed a far greater economic wallop during the financial crisis than the damage low oil prices have inflicted on Alberta, says an internal federal analysis.
The February memo, prepared for Labour Minister MaryAnn Mihychuk, examined the two economic crises after some observers had called on governments to help Alberta’s energy industry — much like the 2009 bailout of the automotive sector.
The auto sector’s situation was much more dire, the document concluded.
(Reuters) - Americans got their first look on Saturday at an overhaul of the troubled enrollment website at the heart of President Barack Obama's health care law, but it was unclear yet if the White House had made good on its pledge to fix the glitches.
Next Wednesday, Barack Obama’s presidency hits one of its first milestone’s—it will have lasted 100 days. Portfolio.com wants to know what you’ve learned about the new president and wants your take on how his presidency is impacting business and culture.
When the U.S. Justice Department charged Standard & Poor’s with fraud earlier this month and demanded US$5-billion in restitution, it was the culmination of the Obama administration’s four-year pursuit of financial chicanery masquerading as sacrosanct credit ratings.
From the beginning of our effort to deal with the crisis, we had the ratings agencies high on the list
US President Barack Obama on Saturday urged senators to pass a comprehensive overhaul of the US financial system that would include a new agency to protect consumers from Wall Street's excesses."These reforms are essential," Obama said in his weekly radio address."As I've urged over the past year, we need common-sense rules that will allow our markets to function fairly and freely while reining in the worst practices of the financial industry."