Obama might not go as fast as some want on financial reforms
Some of Obama's closest advisors - Henry Paulson, Robert Rubin, Lawrence Summers, and others - are Wall Street insiders, and he might not go as fast as his supporters want on financial reforms. Since the election (when he said that the last thing needed is Washington not keeping an eye on Wall Street), he has struck a more moderate note, saying that there is a need for balance rather than heavy-handed regulation.
Henry Paulson is a former CEO of the Goldman Sachs Group Inc. and Rubin and Summers both advocated deregulation when they worked in the Treasury Department under Bill Clinton. Wall Street employees actually contributed more to Obama's campaign than they did to McCain's. The securities and investment industries were the third biggest contributors to Obama's campaign, after the education and legal fields.
