Obama plans overhaul of banking industry

In a speech to Wall Street execs yesterday, President Obama scolded previous excesses and spoke of an “ambitious overhaul” of the financial system. (FT)

Sens. Chuck Grassley and Michael Enzi sent a letter of concern to Sen. Max Baucus yesterday about his draft of the health bill. (NYT)

The cost of the Senate’s health bill has now been pared down to $880 billion. (Bloomberg)

Vice President Biden will make his third tour to Iraq while in office to meet with Iraqi leaders. (Reuters)

Senior Vice President Cheronda Guyton at Wells Fargo was fired for throwing “lavish” parties at a company-owned home in Malibu. (Reuters)