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Emanuel Says Crisis is an Opportunity for Major Reform

In comments to the Wall Street Journal's CEO Council, President-elect Obama's chief-of-staff, Rahm Emanuel, said that the current economic crisis was an opportunity for major reform. Emanuel said, that "you never want a serious crisis to go to waste, and that the problems "lend themselves to ideas from both parties for the solution." He said that Obama and John McCain talked about spending reforms.

He said the five issues that the Obama team wants to reform are health care, energy, taxes, education, and financial regulations.