President Obama Praises Senate Deal on Wall Street Reform Bill, Warns of Lobbyists Influencing Democrats and Republicans

QUINCY, ILLINOIS -- After explaining the need for Wall Street reform at a rally in Quincy, Illinois, this evening, President Obama reacted to the news that Senate Republicans were no longer going to block a vote to proceed to debating the Democrats’ Wall Street reform bill.

“I’m pleased that after a few days of delay, it appears that an agreement may be in hand to allow this debate to move forward on the Senate floor on this critical issue,” the president said to applause at the Oakley Lindsay Center. “I’m very pleased by it. And I want to work with anyone -- Republican or Democrat -- who wants to pursue these reforms in good faith.” It was a markedly different tone for the president, who yesterday assailed Republican Senators for unanimously and repeatedly voting to block debate of the Democrats’ Wall Street reform bill, saying “that’s not right!”

In fact today the president went on to cast himself as the one who will protect the bill from the influence of Wall Street lobbyists on both Democrats and Republicans.

“What I don’t want is a deal made that is written by the financial industry lobbyists,” the president went on to say this evening to the crowd of roughly two thousand, deviating from his prepared remarks. “We’ve had enough of that. We’ve had enough of that. I want to listen to what they have to say, but I don’t want them writing the bill. I don’t want Democrats and Republicans agreeing to a bill written by them, for them, I want a bill that’s written for you, for the American people.”

The president sounded a cautious note, saying, “we’re going to see how this debate unfolds,” but he added, confidently, “we’re going to get this done.”

- Jake Tapper and Sunlen Miller

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