Today will mark an important day for the future of the financial industry when Today will mark an important day for the future of the financial industry when President Barack Obama delivers a speech in New York that will push for financial regulatory overhaul.

According to the Financial Times, Obama is going to call for support to prevent another financial crisis. The president is expected to name the “Vockler Rule” -- which bans proprietary trading at deposit-taking institutions -- as a key component to the financial bill. Obama is also expected to give his support for changes to Wall Street compensation, better consumer financial protections, clarity in derivatives markets, and rules that will prevent the US taxpayer from the failure of banks.

Of course, Obama’s plan is met with doubters. For one, the big banks are going to spend millions of dollars to attempt to remove language from the bill that will eat into their profitability. Secondly, some feel the bill doesn't adequately restructure America’s troubled financial sector.

The doubters make good points, but I wouldn’t doubt Obama. He pushed health-care reform through; will he be able to do the same with financial reform?

Could move the market.

Don't know the time, maybe someone watching bubblevision might.