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Obama: No More "Reckless Behavior" From Financial Firms
By
Jen Chung
Published Sep 14, 2009
Modified Sep 14, 2009
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By
Jen Chung
Published Sep 14, 2009
Modified Sep 14, 2009
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This morning, President Barack Obama warned about Wall Street going back to its dangerous ways, "There are some in the financial industry who are misreading this moment. Instead of learning the lessons of Lehman and the crisis from which we are still recovering, they are choosing to ignore them. They do so not just at their own peril, but at our nation's." Though he did say, "We can be confident that the storms of the past two years are beginning to break," Obama added, "Normalcy cannot lead to complacency... I want everybody here to hear my words. We will not go back to the days of reckless behavior and unchecked excess at the heart of this crisis, where too many were motivated only by the appetite for quick kills and bloated bonuses. Those on Wall Street cannot resume taking risks without regard for consequences, and expect that next time, American taxpayers will be there to break their fall." Here's the full text.
Tagged
economy
financial reform
president obama
recession
wall street
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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