US economy - Obama signs sweeping Wall Street overhaul into law

President Barack Obama signed into law on Wednesday the most comprehensive financial regulatory overhaul since the Great Depression, vowing to stop risky behavior on Wall Street that imperiled the U.S. economy.


Obama, facing voter unrest over Wall Street bailouts that have failed to spark a strong Main Street job recovery, pledged taxpayers would never again have to pump billions of dollars into failing firms to protect the economy.





"Because of this law, the American people will never again be asked to foot the bill for Wall Street's mistakes," Obama said at a signing ceremony attended by some Wall Street bankers, business leaders and lawmakers. "There will be no more taxpayer-funded bailouts. Period."

For more; Obama signs sweeping Wall Street overhaul into law | Reuters