02/07/2009 05:12 am ET Updated May 25, 2011

Obama Planning "Substantial Overhaul" For Financial Markets

President-elect Barack Obama told CNBC he plans "a substantial overhaul" of financial markets in the coming months, including a major restructuring of regulatory agencies.

"Wall Street has not worked," Obama told CNBC's John Harwood in an exclusive interview. "So it's going to be a substantial overhaul. We're going to have better enforcement, better oversight, better disclosure, increased transparency.

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