Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Federal Executive Forum
- Federal Tech Talk
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- The New Generation of Database
- Satellite Communications: Acquiring SATCOM in Tight Times
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- The Truth About IT Opex and Software Defined Networking
- Value of Health IT
Shows & Panels
Obama: Bank system still in need of reforms
Wednesday - 7/2/2014, 11:30pm EDT
WASHINGTON (AP) -- President Barack Obama says that nearly four years after Congress toughened bank regulations the financial sector is still in need of more rules. He says bank customers need to be better protected against failed risk-taking.
Obama says the changes he pushed for and signed into law in 2010 protect taxpayers from having to bail out failed banks. But he says bank traders can still make huge bonuses on high risk trades. If the bets go bad, he says, quote "everybody else is left holding the bag."
Obama made his remarks in an interview with NPR's "Marketplace" program airing Thursday.
Obama does not specify what changes he would recommend. Recently he has met with groups of economists, including Stanford's Anat Admati, who has called for banning large banks from making payouts to shareholders until they can better deal with any losses.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.