President Obama's speech Thursday exhorting bankers to "join us, instead of fighting us" on financial reform appeared to have won over some on Wall Street.
Goldman Sachs faced rising regulatory and legal pressure on Monday as allegations that the bank duped clients fueled momentum for regulatory reform on both sides of the Atlantic. Goldman Sachs - Business - Financial services - Gordon Brown - Banking Services
President Barack Obama accused Republicans on Saturday of spreading misinformation about a Democratic bill that aims to tighten oversight of Wall Street banks and their practices. Barack Obama - Republican - United States - President - President of the United States
For all the proposals stuffed into its 1,336 pages, the financial reform bill that is headed to the full Senate will change very little for banks, Wall Street and financial firms.
The Obama administration's proposed financial regulations now face the same scrutiny, backlash and political infighting that has hampered reforms after a decade of deregulation.
