Obama urging financial overhaul

US President Barack Obama is calling on Congress to approve an overhaul of the US regulatory regime.

In a speech to mark one year since the collapse of Lehman Brothers bank, he will mount a vigorous defence of his administration's economic policies.

The US president will focus on "the need to take the next series of steps" in regulatory reform, White House spokesman Robert Gibbs said.

Mr Obama's team have argued that they staved off a second Great Depression.

Mr Obama is giving the speech in New York, at Federal Hall on Wall Street, whe