(AP) President Barack Obama says the compromise financial overhaul bill will help deflect the next global financial crisis.

Democratic leaders hope to muscle the bill through Congress next week.

In his weekly radio and Internet address, the President says the current crisis happened "largely because there wasn't strong enough oversight on Wall Street." He also pressed for a tax on big banks to recoup some of the billions taxpayers spent to bail out the ailing institutions.

He also pressed legislators to send him a tax on big banks. Supporters say the tax would recoup some of the billions taxpayers spent to bail out the ailing institutions.

The President's address came while the president was in Toronto, Canada, for a weekend economic meeting of world leaders.

I was out of the office last week.  In case you missed it, here is the President’s weekly address from July 19^th.

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Neil Middleton <><
WYMT Mountain News
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