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Obama: Reappraise Wall Street Values

Obama said markets need to be more open and transparent to keep the trust of investors and the public. He said that trust can be restored by federal action like:

_ New mortgage rules with tough penalties for lenders who trick homeowners into loans they can't afford;


Presidential hopeful U.S. Sen. Barack Obama, D-Ill., addresses the Executive Council of New York at the Nasdaq MarketSite, in New York's Times Square Monday Sept. 17, 2007. (AP Photo/Richard Drew)
Presidential hopeful U.S. Sen. Barack Obama, D-Ill., addresses the Executive Council of New York at the Nasdaq MarketSite, in New York's Times Square Monday Sept. 17, 2007. (AP Photo/Richard Drew) (Richard Drew - AP)

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_ An investigation of the relationship and business practices of rating agencies and their clients;

_ A five-star credit card rating system to inform consumers about the level of risk for their credit card, including how easily the company can change the interest rate;

_ A request that lenders show some flexibility to people trying to sell or refinance their homes.

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Associated Press Writer Nedra Pickler in Washington contributed to this report.

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http://www.barackobama.com


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© 2007 The Associated Press