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Obama Urges Lawmakers to Pass Tougher Financial Regulatory Structure

President Obama today used the one-year anniversary of the collapse of Lehman Brothers to urge passage of tougher regulations on financial services to decrease the likelihood of another collapse of the global financial system.

By Claude R. Marx | Updated on September 13, 2009

President Obama today used the one-year anniversary of the collapse of Lehman Brothers to urge passage of tougher regulations on financial services to decrease the likelihood of another collapse of the global financial system.

“We will not go back to the days of reckless behavior and unchecked excess at the heart of this crisis, where too many were motivated only by the appetite for quick kills and bloated bonuses,” Obama said in a speech at Federal Hall on Wall Street in New York City. “Those on Wall Street cannot resume taking risks without regard for consequences, and expect that next time, American taxpayers will be there to break their fall.”

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