Many Republicans oppose the bill, arguing that it gives too much power to regulators and would force financial firms to scale back their size and put them at a disadvantage.

BBC: 'Too big to fail' US banking law

At the national level, we get a president who vows to help the victims of Hurricane Sandy even though some might not be without power if regulators in Washington and New York hadn't been making the environment so hostile to new investment.

WSJ: McGurn: Sandy and the Failures of Blue-Statism

Many business leaders are upset by his plans to strengthen the power of industry regulators, which he is expected to outline in his speech.

BBC: Tories snub CBI dinner