WASHINGTON (AP) -- President Barack Obama says the nation's financial system is 'safer' five years after the collapse of a Wall Street giant plunged the nation deeper into a recession.
Obama marked the fifth anniversary of the bankruptcy of Lehman Brothers by surrounding himself with Americans the White House says have benefited from the administration's economic and banking policies.
Obama says his administration has laid a "new foundation" for a stronger economy. But he admits that the benefits are not being felt by many middle class Americans.
The president's remarks come ahead of anticipated confrontations with congressional Republicans over paying for government operations and raising the nation's borrowing cap. He jabbed Republicans, saying GOP lawmakers are not focused on the middle class.
- Banking & Budgeting
- Politics & Government
- Barack Obama
- bankruptcy of Lehman Brothers