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US government looking for financial overhaul

President Obama will today urge the US Congress to approve a mass of changes to the US financial system just one year to the day since the collapse of Lehman Bros. This is a very poignant moment for the US financial markets because the collapse of Lehman Bros ultimately compounded the collapse of the worldwide financial system. The fact that president Obama is looking to use this anniversary to push through major changes to the US system is a sign of the importance of the issue.

As we near the end of one of the worst recessions in living history there will always be knee-jerk reactions and moves to secure the future, but the truth is that nobody actually knows if or when it may happen again. Such is human nature that greed and fear will always be problems in any area of life and probably more so in the investment arena than any other part of the worldwide economy. Trying to change the mindset of worldwide investors is nigh on impossible which will ultimately leave us wide open to a potential repeat of the recession we see today.

However, that is not to say the changes will not make an impact in the future and if we can only reduce the impact of a potential repeat by a few percentage points than this would be of assistance.

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