Four ways we need Obama's help (Sen. Byron Dorgan)

The Obama administration inherited this problem, but they are proposing the new rules now.

You can contact President Obama now and help me push for real change.

As I see it, there are four main areas we need to address in order to restore confidence in our financial system.

First, there needs to be a full investigation of what happened and prosecution of those who broke the law.

Second, we need to enact new regulations to stop the kind of wild speculation that brought our economy down.

Third, we need to make sure regulators have the powers and resources they'll need to provide effective oversight.

And fourth, we need to get rid of the "too big to fail" philosophy at the Federal Reserve. If the biggest financial institutions are considered "too big to fail" then they are too big. Let's end this no-fault capitalism.

Customize a message to President Obama asking him to help push for these four important principles.

North Dakota banks had it right -- they didn't take crazy risks and they didn't see huge losses.

We need Wall Street to follow that model -- and given the greed that we have seen at the biggest financial firms, we need new rules.

Legislation to overhaul America's financial system will be coming up in Congress this fall, and we can't let this moment pass without making some lasting changes.

Weigh in with President Obama telling him you stand on the side of real change. I will be pushing for that change in Congress and your support will help.

It was just one year ago that the Lehman Brothers bankruptcy exposed the financial house of cards.

We can't settle for jump-starting our economy -- we need to fundamentally rewire our financial industry oversight practices.

Cross-posted from the Huffington Post