President Obama's aides are shrugging off warnings that proposed new financial regulations would be a jobs-killer, while pledging to continue reviewing those concerns.
A White House official said Tuesday that the administration has held "countless meetings" with business leaders and agrees that "it is important to avoid unjustified regulatory costs and burdens." The official said that while they disagree with some business leaders on the need for a financial industry overhaul, business groups are welcome to pass along their regulatory suggestions.
But with the financial overhaul potentially on the verge of passing the Senate, White House Press Secretary Robert Gibbs explained why those regulations won't be reconsidered. "So we don't find ourselves celebrating the two-year anniversary of an economic collapse with rules the way they were two years ago," he said. |