Video: Obama urges finance reforms

Overhaul of regulators is needed to boost consumer confidence, US president says.



    The US president has said that his country's economy is back from the brink, even as he called for more reform of the financial sector.

    Barack Obama's comments come a year after the collapse of Lehman Brothers,  the bankruptcy triggering a global economic crisis.

    Fearing a complete financial meltdown, Washington stepped in with hundreds of billions in US taxpayer dollars to cover losses and keep the banks afloat.

    Governments across the world followed suit, spending a fortune in public money to prop up their financial sectors.

    The banks promised to clean up their act, but Obama has criticised them for failing to act on their words. Al Jazeera's Nick Spicer reports.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Cricket World Cup 2019 Quiz: How many runs can you score?

    Cricket World Cup 2019 Quiz: How many runs can you score?

    Pick your team and answer as many correct questions in three minutes.

    Visualising every Saudi coalition air raid on Yemen

    Visualising every Saudi coalition air raid on Yemen

    Since March 2015, Saudi Arabia and a coalition of Arab states have launched more than 19,278 air raids across Yemen.

    Why did Bush go to war in Iraq?

    Why did Bush go to war in Iraq?

    No, it wasn't because of WMDs, democracy or Iraqi oil. The real reason is much more sinister than that.