Obama slams Wall Street, pushes financial overhaul.docVIP

Obama slams（猛烈抨击） Wall Street, pushes financial overhaul（详细检查） US President Barack Obama said in a speech Thursday that the United States was doomed注定 to repeat its economic crisis if his financial reform bid failed, calling on Wall Street to join, not fight the drive.In his speech, Obama outlined the need to push forward the financial industry reform, explaining at a speech in New York that the nation will be at risk if the US keeps the current framework. He seeks to swiftly push regulatory reform into law.It is essential that we learn the lessons of this crisis, so we dont doom ourselves to repeat it, Obama said.Obama said he believed in the power of the free market, but a free market was never meant to be a free license to take whatever you can get, however you can get it. And he urged Wall Street bosses to halt armies of lobbyists（说客） the White House says are being paid millions of dollars by the industry to hinder reform.His speech was the latest response to a US Securities and Exchange Commission (SEC) （美国证券交易委员会）suit accusing investment bank Goldman Sachs of defrauding（欺骗） investors by failing to say that prominent（突起的） hedge fund manager John Paulson bet against a Goldman Sachs subprime debt product that he helped design.Thursday, Lloyd Blankfein, chief executive of Goldman Sachs, responded that the charges against the bank are politically motivated, according to the Financial Times.Goldman Sachs, the most profitable firm in Wall Street history, was sued by the SEC on April 16.Obama came into power amid the economic crisis and is promising the most sweeping regulatory reform drive since the 1930s Great Depression. Critics believe Obama is on track to win a financial regulatory overhaul. Jiekebosi Nielsen, an economics professor at Stockholm University, told the Global Times that Obama is cutting off his own arms to launch the reform, because it is disastrous to slam Wall Street, as it has enough political influence to take revenge and ruin Obamas co