Obama vows to strengthen financial regulatory agencies

Making a vow to bolster the U.S.'s financial regulatory agencies, President-elect Barack Obama on Thursday tapped Mary Schapiro to lead the Securities and Exchange Commission and Gary Gensler to run the Commodity Futures Trading Commission. Obama said he would make Schapiro and Gensler responsible for leading a substantial revamp of the regulatory system. "These individuals will help put in place new, commonsense rules of the road that will protect investors, consumers and our entire economy from fraud and manipulation by an irresponsible few," Obama said.

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