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overhaul, 3 years after passage of rules update
• WASHINGTON (AP) -- Passage of a sweeping overhaul of Wall Street regulations in 2010 was a hallmark of President Barack Obama's first term. Three years later, amid delays and compromises that critics say have diluted its ambitious goals, the president is trying to rekindle the law's promise.
• Obama prodded the nation's top financial regulators on Monday to act swiftly and finish writing rules designed to prevent a recurrence of the 2008 financial crisis that helped precipitate a damaging recession from which the country is still recovering.
• Obama met privately with Federal Reserve Chairman Ben Bernanke and seven other independent agency heads to emphasize his desire for comprehensive new rules as the five-year anniversary of the nation's financial near-meltdown approaches.
• The law was considered a milestone in Obama's presidency, a robust response to the crisis, which led to a massive government bailout to stabilize the financial markets. But its implementation is behind schedule with scores of regulations yet to be written, let alone enforced.
• Obama hoped to convey "the sense of urgency that he feels," spokesman Josh Earnest said before the president convened the meeting.
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Guardian editor: UK spies oversaw shredding of newsroom disks
• LONDON (AP) -- British agents oversaw the destruction of an unspecified number of the Guardian newspaper's hard drives after the paper began publishing revelations from Edward Snowden's leaks, the paper's editor said Monday.
• Alan Rusbridger made the claim in an opinion piece published on the Guardian's website, saying that a pair of staffers from British eavesdropping agency GCHQ monitored the process in what he called "one of the more bizarre moments in the Guardian's long history."
• He said the hard drives were torn apart in the basement of the Guardian's north London office with "two GCHQ security experts overseeing the destruction ... just to (Continued on page 25)
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