Monday, September 14, 2009

The “most ambitious overhaul of the financial system since the Great Depression”

Barack Obama unveils biggest regulatory overhaul 'since the Depression'

The US President, urging Wall Street not to forget the lessons of the financial crisis which heightened as a result of Lehman’s collapse , said that bank’s “cannot resume taking risks without regard for consequences” warning that they should not “expect that next time, American taxpayers will be there to break their fall.” President Obama went on to warn that as the financial system begins to recover from the horror of the last 12 months, “normalcy cannot lead to complacency” warning that there are some in the financial industry who are “misreading the moment.”

Posted by devo @ 10:35 PM (737 views)
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