Wednesday, April 01, 2009

US Obama Pressing for New Global Financial Regulations at G-20 News Conference; UK Brown Agrees (4/1/09)

Britain's Prime Minister Gordon Brown and U.S. President Barack Obama at a press conference at the Foreign and Commonwealth Office in London Wednesday April 1, 2009.
(Photo: AP Photo/Anthony Devlin)

Obama: Economic Differences 'Vastly Overstated

[At the news conference with British PM Brown...] "The questions were sharp and focused on the global economic crisis and whether the United States has to shoulder the blame."

" "The U.S. certainly has some accounting to do with respect to a regulatory system that was inadequate," Obama said. "I had a law professor who said some are to blame, but all are responsible." "

" "I think that the separation between the various parties involved has been vastly overstated," Obama said. " That's just arguing at margins." "

Obama kicked off his day at the iconic home of the British prime minister -- 10 Downing St. -- joined by Secretary of State Hillary Clinton and Secretary of the Treasury Timothy Geithner.

Read and download the entire report here.

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