Obama Praises Wall Street Bill

President Obama touted the new Wall Street reform bill as the “the toughest financial reforms since the Great Depression” in his weekly radio address Saturday. The address, promising new consumer protections that would guard against a crisis like the one that rocked the global economy in 2008, was recorded just hours after the House and Senate crafted the final version of the legislation. But ahead of the final vote on the bill, Senate Minority Leader Mitch McConnell, a Republican from Kentucky, said the reforms could stifle growth and does not address problems with “government-sponsored enterprises that were the root cause of the problem.” The House and Senate are due to vote next week and administration officials are hoping it will reach Obama’s desk by July 4.