| WASHINGTON, April 11
WASHINGTON, April 11 President Barack Obama
stressed the need to revive the U.S. economy and reform
immigration and fiscal policy during a meeting on Thursday with
some of the world's most powerful bankers.
The White House had set the agenda for the meeting, a source
familiar with the situation said, and the ongoing reform of Wall
Street - a hot issue for bank lobbyists - did not appear
prominently on the list of topics.
"The president discussed with the business leaders the need
to work together on a number of important issues affecting
business confidence, economic growth and job creation," a White
House official said in an emailed statement.
Goldman Sachs Chief Executive Lloyd Blankfein was at
the meeting, as were Jamie Dimon, the head of JP Morgan Chase
, James Gorman of Morgan Stanley and Brian
Moynihan, who heads Bank of America.
For a full list of participants, see
The group, which included representatives from the insurance
and asset management industries, left the White House at noon in
two vans without speaking to the press. They had been inside for
roughly an hour.
The bankers were all members of the Financial Services
Forum, which was holding its day-long spring meeting, according
to the White House official. The Forum, a prominent bank lobby,
said the dialogue had been "constructive."
Washington politicians - and even some regulators - have
become more critical of the overhaul of the financial sector
after the 2007-09 crisis through laws like the 2010 Dodd-Frank
reforms and regulatory agreements such as the Basel III capital
Two U.S. senators, for instance, have introduced a plan that
would force banks to raise far more equity to fund their
business, something that would be so costly that the largest
banks might need to break up their business.
But while the "safety and soundness" of the financial system
was on the agenda, according to a second person familiar with
the situation, it was only one of many topics, such as
immigration, cyber-security and the U.S. budget.
Dimon and Moynihan met Obama last month with other business
leaders to discuss cyber attacks, seeking a "light touch" from
the government in response to the risk, which they agreed were a
top security threat..