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March 31st, 2008
Posted: 12:16 PM ET

WASHINGTON (CNN) — Senate Majority Leader Harry Reid, D-Nevada, welcomed
Monday a proposal to overhaul the nation’s regulatory system as “a step in the
right direction” but warned that it would only affect problems in the future,
not existing problems.

“The White House should direct their attention to what needs to be done
now,” he said.


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The CNN Wire is a running log of the latest news from CNN World Headquarters, reported by CNN's correspondents and producers, and The CNN Wire editors. "Posted" times are Eastern Time.

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