(LATimes.com) — President Obama made a forceful new push Wednesday for a sweeping overhaul of financial regulations to avert future economic catastrophes, but the long-sought legislation is in danger of stalling amid a gathering Capitol Hill firefight similar to the bitter healthcare battle.
The proposed overhaul, which has moved to the top of Democrats’ legislative agenda, is a far-reaching effort to give federal regulators power to prevent another financial crisis and tackle the problem of institutions deemed “too big to fail.”