March 27, 2009

Today, Pres. Barack Obama will meet with the leaders of the nation's largest financial institutions in an effort to gain their support for his bank rescue plan.

Citi's Vikram Pandit, J.P. Morgan Chase's Jamie Dimon and Goldman Sachs' Lloyd Blankfein will headline the group of 15 financial services chiefs set to convene on Washington.

According to a report from Bloomberg.com, White House advisers said the meeting will not be a finger-pointing session addressing the problems at individual institutions. Rather, it will focus on "stabilizing financial markets, boosting lending to businesses and consumers, reducing foreclosures and imposing regulatory overhaul."

The Bloomberg article suggests the meeting is part of the President's effort to engage the financial services community after weeks of sharply criticizing it. "We're reliant upon them to help rebuild our economy," said senior adviser Valerie Jarrett. "It would be very unnatural if we didn't engage them and have a direct opportunity to pick their brains and look to the future."

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