In a White House statement released today, President Obama calls for new restrictions on the size and scope of financial institutions. Here’s the full text:
“While the financial system is far stronger today than it was a year one year ago, it is still operating under the exact same rules that led to its near collapse. My resolve to reform the system is only strengthened when I see a return to old practices at some of the very firms fighting reform; and when I see record profits at some of the very firms claiming that they cannot lend more to small business, cannot keep credit card rates low, and cannot refund taxpayers for the bailout. It is exactly this kind of irresponsibility that makes clear reform is necessary.”
