{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Call for stricter banking rules, Goldman Sachs results, protest' data-url='/boclips/videos/5c54bec5d8eafeecae13e317' data-video-url='/boclips/videos/5c54bec5d8eafeecae13e317' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nCall for stricter banking rules, Goldman Sachs results, protest\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eWashington, DC  1. President Barack Obama and Vice President Joe Biden enter Diplomatic Reception Room2. SOUNDBITE: (English) Barack Obama, US President:\"We have to enact commonsense reforms that will protect American taxpayers - and the...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eWashington, DC  \u003cbr/\u003e1. President Barack Obama and Vice President Joe Biden enter Diplomatic Reception Room\u003cbr/\u003e2. SOUNDBITE: (English) Barack Obama, US President:\u003cbr/\u003e\"We have to enact commonsense reforms that will protect American taxpayers - and the American economy - from future crises as well.   For while the financial system is far stronger today than it was one year ago, it''s still operating under the same rules that led to its near collapse.  These are rules that allowed firms to act contrary to the interests of customers; to conceal their exposure to debt through complex financial dealings; to benefit from taxpayer-insured deposits while making speculative investments and to take on risks so vast that they posed threats to the entire system.\"\u003cbr/\u003e3. Cutaway of Vice President Biden, Senator Christopher Dodd and other economic advisors - pan to President Obama\u003cbr/\u003e4. SOUNDBITE: (English) Barack Obama, US President:\u003cbr/\u003e\"I welcome constructive input from folks in the financial sector.  But what we''ve seen so far, in recent weeks, is an army of industry lobbyists from Wall Street descending on Capitol Hill to try and block basic and common-sense rules of the road that would protect our economy and the American people.  So if these folks want a fight, it''s a fight I''m ready to have.  And my resolve is only strengthened when I see a return to old practices at some of the very firms fighting reform.\"\u003cbr/\u003e5. Cutaway \u003cbr/\u003e6. SOUNDBITE: (English) Barack Obama, US President:\u003cbr/\u003e\"We''ve come through a terrible crisis.  The American people have paid a very high price.  We simply cannot return to business as usual.  That''s why we''re going to ensure that Wall Street pays back the American people for the bailout.  That''s why we''re going to reign in the excess and abuse that nearly brought down our financial system.  That''s why we''re going to pass these reforms into law.  Thank you very much, everybody.\u003cbr/\u003e7. President leaves podium and exits room. Audio of a journalist asking the President if he has any reaction to the Supreme Court ruling. The President answers; \"We''re studying that\". \u003cbr/\u003eNew York City\u003cbr/\u003e8. Wideshot of protesters outside the offices of Goldman Sachs\u003cbr/\u003e9. Pan up of Goldman Sachs building.\u003cbr/\u003e10. Shot of protesters chanting, \"Money for jobs, not for banks, money for housing, not for banks\" \u003cbr/\u003e11. SOUNDBITE: (English) Gregory Morcroft, MarketWatch:\u003cbr/\u003e\"It certainly is a very good idea, I think for a politician, at this point to, to rail against the banks. I think that whether or not some of these measures get passed, there''s a lot of heavy lifting to do in Congress, I think. Again, we see from the share prices of these stocks that assuming that the bill gets passed, that the regulations change, yes, it would clearly affect some of the largest financial institutions in the country.\"\u003cbr/\u003e12. Shot of a protester, demonstrating across the street from Goldman Sachs, holding a sign over his head which reads; \"Greed Kills\"\u003cbr/\u003e13. SOUNDBITE: (English) Gregory Morcroft, MarketWatch:\u003cbr/\u003e\"That''s a lot of money in times like this, Goldman''s CFO admitted that they were paying attention to the difficult times that people on Main Street are having. But it''s hard for some people on Main Street to reconcile that with the numbers, I think, indeed.\" \u003cbr/\u003e14. Shot from across the street from Goldman Sachs show protesters outside\u003cbr/\u003eUS President Barack Obama is proposing new regulations to cut back on the size and the investment risks of the American mega-banks.\u003cbr/\u003eTaking a sternly populist tack that lectured Wall Street for abandoning Main Street, Obama announced that he wanted new powers for the federal goverment to restrict the size and complexity of large financial institutions and also to limit their ability to engage in high-risk trades. \u003cbr/\u003eObama said \"it is not appropriate\" that banks have been able to run such trading operations with the protections afforded to regular banking services.\u003cbr/\u003eObama was flanked by a bipartisan cast of supporters that included former Federal Reserve Chairman Paul Volcker and William Donaldson, appointed by President George W. Bush as head of the Securities and Exchange Commission. \u003cbr/\u003eBoth men have advocated tighter banking restrictions. Volcker heads the President''s Economic Recovery Advisory Board.\u003cbr/\u003eA financial regulatory overhaul is the one issue on Obama''s agenda that appears still standing after a devastating Democratic electoral loss in Massachusetts. \u003cbr/\u003e\"I welcome constructive input from folks in the financial sector,\" Obama said.\u003cbr/\u003e\"But what we''ve seen so far, in recent weeks, is an army of industry lobbyists from Wall Street descending on Capitol Hill to try and block basic and common-sense rules of the road that would protect our economy and the American people.\"\u003cbr/\u003eHe said his resolve was strengthened when she haw a return to old practices at some of the firms fighting reform.\u003cbr/\u003e\"So if these folks want a fight, it''s a fight I''m ready to have,\" he said.\u003cbr/\u003eThe White House is renewing Obama''s demand that any overhaul of banking regulations contain an independent consumer financial protection agency.\u003cbr/\u003eThe proposed agency is one of the major sticking points in the Senate and the central focus of negotiations between Democrats and Republicans on the Senate Banking Committee.\u003cbr/\u003eThe even tougher measures Obama announced on Thursday aim to limit speculation by commercial banks and to keep financial institutions from becoming so big that they pose a risk to the overall economic system.\u003cbr/\u003eIn focusing attention on Wall Street, the administration is seeking to halt a wave of public anxiety that is benefiting Republicans and undermining Obama''s agenda. \u003cbr/\u003e\"We''ve come through a terrible crisis,\" Obama said.\u003cbr/\u003e\"The American people have paid a very high price.  We simply cannot return to business as usual.  \u003cbr/\u003eHe said his administration would \"ensure that Wall Street pays back the American people for the bailout.\"\u003cbr/\u003e\"That''s why we''re going to reign in the excess and abuse that nearly brought down our financial system,\" he said.\u003cbr/\u003eMeanwhile, Goldman Sachs Group Inc., one of the largest Wall Street banks, said on Thursday it earned 4.79 (b) billion US dollars in the fourth quarter as the bank''s trading business again outdistanced the rest of the financial industry. \u003cbr/\u003eThe company rewarded its employees with 16.2 (b) billion US dollars in salaries and bonuses for 2009, up 47 percent from the previous year, but still lower than many had expected.\u003cbr/\u003eA group of protesters gathered outside the Gold Sachs building in New York City, some chanting  \"Money for jobs, not for banks, money for housing, not for banks.\"\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv 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