The president is set to meet Friday with financial regulators about stress tests.
Wired PR News – President Barack Obama is set to meet with financial regulators Friday in regards to stress tests for banks. As reported by Reuters, the President will discuss a range of topics with a group of regulators and advisors including Treasury Secretary Timothy Geithner, FDIC Chairman Sheila Blair, Federal Reserve Chairman Ben Bernanke, and others.
White House spokesman Robert Gibbs is quoted in the report as stating of the meeting, “I’m sure health assessments of banks will be discussed, financial re-regulation, and an update off of, and a building on, the momentum of G20.”
As noted by the AP, the stress tests will reportedly be part of an effort to better understand the financial needs of the large banks by seeing how they would manage under conditions that are worse than may be anticipated.
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