- The Washington Times - Friday, March 27, 2009

WASHINGTON (AP) - The White House says President Barack Obama has urged CEOS of some of the nation’s largest banks to deal with the bad assets they own so they can resume lending money to businesses and consumers.

Press secretary Robert Gibbs said Obama’s conversation with the bankers also touched on the administration’s housing plan, its proposal for tighter regulation of the financial industry and the issue of executive compensation.

Obama invited CEOs from the nation’s 15 largest banks to the White House on Friday to discuss the economy and other issues.

Gibbs says the president emphasized that Wall Street needs Main Street and vice versa.

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