Class warfare benefits nobody.-Lou
Wall Street sinks as Obama warns of oversight
NEW YORK (Reuters) - Stocks fell on Wednesday after President Barack Obama warned of stricter oversight for Wall Street, raising the specter of greater regulation that investors fear could sap profits.
Obama's comments near the market close rattled investors when he said financial institutions that pose a serious risk to markets should be subject to serious government supervision.
"Whenever there is a question about how large the government role will be ... the market doesn't like that," said Peter Kenny, managing director at Knight Equity Markets in Jersey City, New Jersey
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http://finance.yahoo.com/news/Wall-St-falls-as-Obama-speech-rb-14464125.html
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