Obama Urges Wall Street Not to Ignore Lessons of Crisis

WSJ ^ | 9-14-09 | HENRY J. PULIZZI and ELEANOR LAISE

[STONEWALLS]

WASHINGTON -- President Barack Obama warned Wall Street that it wouldn't be wise to ignore lessons from last year's economic turmoil, pressing the financial sector to join his effort to remake financial regulation by the end of the year.

In a major address in New York, Mr. Obama said the storms of the financial crisis "are beginning to break" with less need for the government to get involved in the financial system. But he pressed Wall Street not to grow complacent as the economy returns to normal, saying banks shouldn't expect taxpayers to come to the rescue again. (See the prepared text of Obama's speech.)

[STONEWALLS]

....yet another speech from Acorn Boy....is there any area of American life that he doesn't think needs "reform"

[eclecticEel]

saying banks shouldn't expect taxpayers to come to the rescue again

Why the heck not? If they "needed" the bailout last time, what argument is there against them "needing" it next time around?

[Kansas58]

Of course, Obama will never “reform” ACORN!

[kromike]

is there any area of American life that he doesn't think needs "reform"

Nope. Rush has him pegged; this is a _resident who sees America as imperfect and must be remade is his image.

[Flag_This]

[rbg81]

Yup—the only lesson Wall Street has learned is that they can play fast and loose and the Govenment will bail them out. Those investment firms are just big, Ivy league clubs.

[ThreePuttinDude]

Acorn boy needs to STFU and let Wall Street worry about their business.
He dosen’t know what the hell he’s talking about when it comes to this.
Show me his degree, MBA? lets see it 0bamination

[Sooth2222]

"saying banks shouldn't expect taxpayers to come to the rescue again"

He doesn't want Wall Street's campaign contributions next time? (About 2:1 for Obama vs. McCain).

Excellent return on investment for Wall Street!

We can't afford it this time! Next time?

[The Wizard]

this cat should shut The F up and go away.

[gidget7]

OH I would say a LOT of America, and Wall St. has learned a VERY VALUABLE lesson from not only Lehman but the rest of this fascist administration’s actions! Apparently he missed all 1-2 million people in WA on Sat., there to tell him so!

[elpadre]

Obama, Gainther, et al, made many mistakes in the financial system that could be fatal. They all need to learn from those mistakes. It seems he has already forgotten the key to the downturn. That is the sub-prime housing debacle, a product of certain congressmen.