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Obama Presses Banks to Lend, Accept New Regulations

In an hour-long meeting Monday, President Obama pressed executives from Wall Street banks to increase their lending to small businesses and stop fighting financial regulation efforts, the New York Times reports. "America's banks received extraordinary assistance from American taxpayers to rebuild their industry," Obama said in remarks after the meeting. "Now that they're back on their feet, we expect an extraordinary commitment from them to help rebuild our economy." The president hoped to use the meeting to capitalize on public outrage at the banks' dependence on taxpayers for bailouts, and ...

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