NEW YORK ( TheStreet) -- President Obama's second trip to the Wall Street area over the past year evokes a little bit of classic American literature -- perhaps appropriately so.
"I believe that on the first night I went to Gatsby's house I was one of the few guests who had actually been invited," says Nick, the narrator in The Great Gatsby, F. Scott Fitzgerald's tale of wealth and its pitfalls. "People were not invited -- they went there."
Obama is bringing the battle to New York thursday, heading to a college in Manhattan outside the financial district to garner public support for a rigorous overhaul of the way the financial sector is regulated. Unsurprisingly, Wall Street isn't exactly rolling out the red carpet.
The emerging laws -- still winding their way through Congress -- are sure to be tough on the financial sector. The bill will target large, money-center firms that are considered "too big to fail." It proposes a tidy resolution process in case they do, and forces them to pay a fee to enjoy the benefits of such a status.Other measures are set to throw a regulatory net on the "shadow financial system" -- financial
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