Recession has been the bane of the existence of the entire world, and the Wall Street had been particularly hit by it, to the extent that it is still struggling to get back on its feet. But then, on the other hand, some of the Wall Street executives have lately been having parties all around. Bank chiefs have been going home with heavy paychecks and other bosses have also been at a profitable end.

In addition, ongoing investigations have proved that the recession had, in the first place, been brought on by the incessant risk taking that some of the biggest American banks had been indulging in. Looks like they had gotten too confident after seeing some good times in 2007 and prior to that.

The recession and bailing out of banks and financial institutions has cost the American Government oodles of money, funds which have still not been repaid completely. In such a scenario, it seems that there is an urgent need to slap some restrictions on Wall Street, which should now abide by some new regulations.

For the Democrats of the Congress and President Barack Obama himself, Wall Street reform is the top priority right now, mainly to avoid any other financial meltdowns for future.

Last year, the House had passed a strong financial reform bill, which, needless to say, did not have even a single Republican vote. But now, the Democrats are pushing a much stronger bill which would ensure that the Wall Street establishments are working in-line with all the required regulations.

There would be no shady, behind the curtains business going on. Banks and financial institutions would be answerable for all their acts. And in the current scenario, this is exactly what we need!