President Obama's very own ""New Deal"" has officially been enacted into law. The president penned his name to the Dodd-Frank Wall Street Reform and Consumer Protection Act Wednesday Ã¢â‚¬" legislation that's been[IMAGE] [COLUMN_BREAK]
crowned the strongest financial and regulatory reform measure since Franklin Roosevelt's response to the Great Depression.
Speaking to reporters outside the Ronald Reagan Building after the signing, President Obama hailed the more than 2,300-page document as ""the strongest consumer financial protections in history.""
""These protections will be enforced by a new consumer watchdog with just one job: looking out for people - not big banks, not lenders, not investment houses - looking out for people as they interact with the financial system,"" Obama said.
The president pledged, ""Because of this law, the American people will never again be asked to foot the bill for Wall Street's mistakes. There will be no more taxpayer-funded bailouts. Period.""