By Kenny Porpora
DNAinfo Reporter/Producer
MANHATTAN — Hundreds of members of the conservative Tea Party Movement are planning to protest President Barack Obama's speech in New York City on Thursday, where Obama will promote Wall Street reform legislation.
Obama's speech will take place at Cooper Union, just two blocks from Wall Street, the epicenter of the economic crisis.
The reform Obama is proposing would give more authority to financial regulators, force banks to maintain less debt and keep more cash on hand, and give the government the right to take over failing financial firms.
"We need to enforce the current laws on the books and update certain laws to have proper controls in place," Tea Party protest organizer James Webb told Crain's New York. "I don't think any rational person can say otherwise. But we don't need the federal government to have more control."
The planned protest comes a week after tea partiers, including Lou Dobbs, gathered in front of the Farley post office in midtown on April 15 to protest national tax day.
