Increase Regulation Of Financial Industry

President Obama has made the following promise:

"I'll put in place the common-sense regulations and rules of the road I've been calling for since March — rules that will keep our market free, fair, and honest; rules that will restore accountability and responsibility in our corporate boardrooms." — 10/9/08, Dayton, Ohio

Other promises regarding our economy.

UPDATES:

Updated: January 20, 2009

Schapiro Promises Tougher Enforcement

Obama's nominee to head the Securities and Exchange Commission, Mary Schapiro, pledged in testimony [PDF] before the Senate Banking Committee on Jan. 15 that she would "move aggressively to reinvigorate enforcement at the SEC," saying "the American people want and expect us to update the regulatory system that has failed them — and to prevent the kinds of abuses that have contributed to the economic crisis we now face."

Updated: January 27, 2009

Geithner Restricts Lobbyists At Treasury

Timothy Geithner's first act as Treasury secretary "was issuing new rules that take aim at limiting the influence of lobbyists seeking rescue funds from the department's $700 billion financial rescue program," the Washington Post reports. "The rules, which are modeled on restrictions already in use that limit lobbying on tax matters, would restrict employees' contact with lobbyists in connection with applications for bailout funds or disbursement of those funds. They also require certification to Congress that decisions for using the bailout money are based only on investment criteria and the facts of the case."


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