Nation's Top Economic Policymakers Agree: Major Wall Street Regulation Changes Needed

07/18/2008 05:12 am ET | Updated May 25, 2011

The nation's top economic policymakers took their campaign to rework financial regulation to Capitol Hill yesterday, urging Congress to make major changes in the oversight of Wall Street firms and other financial institutions.

Calls by Treasury Secretary Henry M. Paulson Jr. and Federal Reserve Chairman Ben S. Bernanke for legislation intended to prevent a financial crisis like the one of the past year received a warm reception from the House Financial Services Committee. Most questions from lawmakers were about when and how to overhaul the system, not whether to do so.

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