Obama endorses more Wall Street reform

07/05/2014 7:18 AM

07/05/2014 7:18 AM

President Barack Obama says more reforms aimed at Wall Street are needed, arguing that as the U.S. financial sector has grown, “more and more of the revenue generated on Wall Street is based on arbitrage -- trading bets -- as opposed to investing in companies that actually make something and hire people.”

In an interview with Marketplace, Obama said because of past financial reform taxpayers won’t be “left holding the bag” by banks that make bad bets.

But, he said, “it's still not a real efficient way for us to run a financial system” and he suggested a fix will “require some further reforms. That's going to require us looking at additional steps that we can take.”

Nation & World Videos

Join the discussion

is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service