Proposed checks on financial firms show rival Volcker’s growing influence

[centristgrandpa]

source quote: For much of last year, Paul Volcker wandered the country arguing for tougher restraints on big banks while the Obama administration pursued a more moderate regulatory agenda driven by Treasury Secretary Timothy F. Geithner.

Thursday morning at the White House, it seemed as if the two men had swapped places. A beaming Volcker stood at Obama's right as the president endorsed his proposal and branded it the "Volcker Rule." Geithner stood farther away, compelled to accommodate a stance he once considered less effective than his own.

The moment was the product of Volcker's persistence and a desire by the White House to impose sharper checks on the financial industry than Geithner had been advocating, according to some government sources and political analysts. It was Obama's most visible break yet from the reform philosophy that Geithner and his allies had been promoting earlier.

Jan. 21: In the wake of what some believe was a populist revolt of angry independents in Tuesday's Massachusetts senate race, President Barack Obama came out swinging at Wall Street and big banks Thursday. NBC's Chuck Todd reports.

http://www.msnbc.msn.com/id/34997396/ns/business-washington_post/

This is change i can live with...