Tuesday, July 21, 2009

you don't get a sense that folks on Wall Street feel any remorse

President Barack Obama discussed the status of the economy, while taking a shot at unrepentant banks

Well, here's what happened. You had a Wall Street that took excessive risks, acted irresponsibly and almost dragged the entire economy into a depression...The problem that I've seen, at least, is you don't get a sense that folks on Wall Street feel any remorse for taking all these risks. You don't get a sense that there's been a change of culture and behavior as a consequence of what has happened. And that's why the financial regulatory reform proposals that we put forward are so important.

(editorial -- maybe you shouldn't have bailed em out? Moral Hazard is alive and very well)
 
From an Interview with PBS