The U.S. Democratic presidential candidate Obama Monday said that a comprehensive reform of Wall Street regulatory rules is the key for restoring the confidence in financial markets. He said that if he is elected as the president successfully, he will launch a new scheme for it.
Obama said, as to this unprecedented trouble, policy makers are lack of the tools to deal with it.
As for the short-term measure to appease the anxiety of the market, Obama said that the government should take more measures to stabilize the real estate market, because the real estate market is the centre of the crisis.
Obama said he is worried that the market will happen vicious circle. That is real estate investors suffered huge losses, leading Wall Street credit crunch, corporate and investment difficult to hire, which in turn may aggravate the financial market crisis.
Obama think we must act quickly, because he doubt the confidence of entire credit market and financial market is constantly deteriorating. It is very difficult to restore.
Originally Posted: China Business Daily
Author: Angulo Fu