The US is proposing the most sweeping overhaul of its financial regulatory system since the Great Depression.

Treasury Secretary Henry Paulson unveiled the  blueprint on Monday. (CCTV.com)

Treasury Secretary Henry Paulson unveiled the blueprint on Monday. He says a strong financial system is important not only for Wall Street, but also for working Americans.

Paulson says the crisis in the housing industry remains a top priority. And to avoid more pressure on an already stretched financial and housing market, the blueprint addresses complex, long term issues that include the insurance and mortgage industries.