QUINCY, ILL. (AP) -- President Barack Obama says he's pleased that Senate Republicans are agreeing to allow debate on a financial overhaul bill after days of stalling tactics.
Obama told a crowd in Illinois Wednesday that the bill will end bailouts, make banks accountable to consumers and bring complex Wall Street deals into the light of day.
He spoke shortly after news broke in Washington that Republicans would end a filibuster of the legislation and let debate go forward.
Obama said the legislation would ensure that taxpayers aren't on the hook ever again for Wall Street mistakes.
The president said: "The time for reform is now."
Obama was finishing up the second day of a two-day Midwest tour.
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