White House sees momentum on financial reform

Posted on Reuters.com.  Click here to view original article.

Tue Apr 13, 2010 6:34pm BST
Writing by Caren Bohan; Editing by Jackie Frank


 WASHINGTON, April 13 (Reuters) - The White House said on Tuesday it believed momentum was building for the effort to overhaul U.S. financial regulations and urged opposition Republicans to join the push.

"We hope Republicans in Congress will join us in a constructive conversation about how to move a strong bill forward," a White House official said, a day before President Barack Obama was to sit down with top Democratic and Republican lawmakers to discuss legislation on financial reform.

The official said Obama won't allow a "race to the bottom" on reform and would not allow the bill to be watered down.