Financial Times FT.com

Obama pledges to fix financial system

By Andrew Ward in Washington

Published: February 25 2009 01:34 | Last updated: February 25 2009 06:57

US President Barack Obama promised on Tuesday to act with the “full force of the federal government” to shore up the financial system and acknowledged that more taxpayer money would be required to bail out banks.

In his first address to Congress as president, Mr Obama said he understood opposition to aid for Wall Street but insisted government support was essential to keep credit flowing.

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