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Obama to Congress: Put in place banking rules now
President Barack Obama says the big trading loss at JPMorgan Chase shows the need to finally put in place banking rules he signed into law two years ago. He also is calling on Congress to stop trying to weaken the regulations.
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Europe's economic woes dominate G8 gathering
CAMP DAVID, Maryland (Reuters) - U.S. President Barack Obama pledged at a summit on Saturday to work with Europe on a package that balances growth with debt reduction as world leaders try to prevent the worsening euro zone crisis from destabilizing the global economy. At the wooded Camp David retreat in Maryland's Catoctin Mountains, Obama and leaders from other major economic powers are seeking ways to soothe financial markets after worries about Spain's banking problems and the risk of a Greek exit from the euro zone sent world stocks to their lowest levels this year. ...
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