Thursday, January 08, 2009

Wall Street, Banks, & Goverment; Loss of Trust in Economy


"For years, too many Wall Street executives made imprudent and dangerous decisions seeking profits with too little regard for risk, too little regulatory scrutiny, and too little accountability. Banks made loans without concern for whether borrowers could repay them, and some borrowers took advantage of cheap credit to take on debt they couldn't afford. Politicians spent taxpayer money without wisdom or discipline, and too often focused on scoring political points instead of problems they were sent here to solve. The result has been a devastating loss of trust and confidence in our economy, our financial markets and our government." -- Barack Obama

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