From the Financial Times:
“President Barack Obama vowed on Saturday not to abandon his push for financial regulatory and healthcare reforms as he sought to boost the morale of fellow Democrats after the loss of a pivotal U.S. Senate seat.
“With his legislative agenda in limbo, Mr Obama came out swinging at a meeting of the Democratic National Committee, accusing Republicans of caring more about “scoring points” in a congressional election year than solving the country’s pressing problems.
“He spoke a day after Senate Banking Committee Chairman Christopher Dodd declared an impass with Senator Richard Shelby, his Republican counterpart in negotiations to reach a compromise on tightening financial rules. The situation leaves Democrats with the option of trying to proceed alone.
“If we’ve learned anything from the devastating recession, we know that wise regulation actually can enhance the market and make it more stable and make our economy work better,” Mr Obama said. “We can’t return to the dereliction of duty that helped deliver this recession.”
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