U.s. Financial System Overhaul, Regulation | featured news

Sen. Christopher J. Dodd indicated that Democrats would forge ahead with their own bill, following months of talks that had been aimed at reaching a bipartisan consensus.

The Obama administration's proposal to overhaul financial regulations, aimed in part at restoring global confidence in America's economic system, triggered a welcome but largely wait-and-see response from overseas investors and analysts.

President Obama said he was looking for a "careful balance" when sketching his blueprint to stabilize the nation's financial sector and wring from the system the kind of risky practices that propelled the country into economic turmoil.