style="FONT-FAMILY: arial; FONT-SIZE: 13px">President Obama urged House
and Senate leaders from both parties to set aside partisan tensions and work
harder to complete legislation overhauling the nation’s system of financial
regulations. During a White House meeting on Wednesday with Senate Majority
Leader Harry Reid, Senate Minority Leader Mitch McConnell, House Speaker Nancy
Pelosi, House Majority Leader Steny Hoyer and House Minority Leader John
Boehner, the President said - I’m confident that if we work together diligently
over the next several weeks, we can come up with a package that serves the
American people well.

style="FONT-FAMILY: arial; FONT-SIZE: 13px">GOP leaders believe a bill
introduced last month by Senate Banking Committee Chairman Christopher Dodd
fails to address the problems caused by failure of mortgage giants Fannie Mae
and Freddie Mac. The White House is asking for public comments on how to
overhaul the housing finance system and what role — if any — the government
should play in that system.

style="FONT-FAMILY: arial; FONT-SIZE: 13px">Republican opposition to the main
financial overhaul bill has not eased. House Minority Leader Boehner believes -
it sets up a huge new bureaucracy that will destroy jobs. It does nothing to
address the root causes of the financial meltdown of Fannie and
Freddie.

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