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"the cafferty file." hey, jack, what are you working on? >> suzanne, in calling on wall street to back reform, president obama says he believes in the power of the free market, but he also says that a free market was never meant to be a free license to take whatever you can get, however you can get it. that's a quote. the president says that reform of the financial industry is necessary in order to avoid another crisis, the aftermath of which we are still living through. he says reform would help keep consumers from being duped by deceptive financial deals, make complex investment derivatives ...

>> right. >> -- he acknowledged that he thought when it comes to trading derivatives and the idea of making them more transparent that the president had a good idea, and here's what he said, mr. giuliani. he said, i vote for the chairman derivatives bill today, because i think transparency is the right policy. the draft isn't perfect. i want to fix the way a provision is written so that whistle-blower protections are not weakened as a result, for example, but the lincoln bill is an important step in the right direction for transparency and accountability in the derivatives market. does he not ...