Obama Calls for Greater Openness and Transparency on Wall Street

MANCHESTER , NH —Senator Barack Obama is scheduled to deliver the following remarks today at the NASDAQ Marketsite. Obama will argue that the “what’s good for me is good enough” mentality that has crept into certain corners of the Washington and the business world has led to bad-for-business practices that don’t just offend our morals, but endanger our markets.

Using the subprime mortgage crisis that has led to today’s economic uncertainty as an example, Obama will discuss why the American economy and the American people benefit from policies that ensure openness, transparency, and honesty in the marketplace. Obama has been a leader in raising awareness of the subprime issue, and he will reiterate his call for more disclosure in the housing market. To ensure that no conflict of interest exists between rating agencies and the people they’re rating, he will also call for an immediate investigation into the relationship and business practices of rating agencies and their clients.

Finally, Obama will ask Wall Street to join him in supporting an economic agenda that will level the playing field for the American people and ensure America’s prosperity in the 21st century. Obama is scheduled to deliver a speech on Tuesday in Washington DC where he will outline specific tax policy proposals.

The speech is being hosted by the Executive Council as part of their Candidate Roundtable Series.