Nomi Prins: “Obama Banking Too Much on Banks”

President Obama visited Wall Street Monday to promote a regulatory overhaul of the US financial system. The visit came on the one-year anniversary of the collapse of the investment bank Lehman Brothers. Lehman’s bankruptcy set off a series of events across the financial markets, leading to a full-scale economic meltdown. Speaking at Federal Hall, Obama promoted Democratic proposals for new financial oversight and a consumer protection agency to protect Americans from unfair loans, but Nomi Prins, an investment banker turned journalist, says Obama’s proposed reforms don’t go deep enough.