Obama wants more financial reform


p18pjmf9g01ke1oeodak170s1ubp7The financial crisis in the United States does not seem to be getting better and the working class is growing more every day.

President Obama expressed his concern on the issue by saying  “We have to continue to see how can we re-balance the economy sensibly, so that we have a banking system that is doing what it is supposed to be doing to grow the real economy, but not a situation in which we continue to see a lot of these banks take big risks because the profit incentive and the bonus incentive is there for them.”  

It can be said, on Wallstreet big banks have made some internal changes and they have shut down the profitable but particularly risky speculative trading units.  Some critics argue that Obama’s focus has been on wages and college costs.  The banking system is far too complex for reform to happen overnight. 

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Picture by www.Americanbanker.com




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