Obama said he understood the public's concerns about how the nation's financial system works and said Americans see Wall Street as an example of the financial industry not always following the rules.
"It expresses the frustrations that the American people feel that we had the biggest financial crisis since the Great Depression, huge collateral damage all throughout the country, all across Main Street," the president said. "And yet you're still seeing some of the same folks who acted irresponsibly trying to fight efforts to crack down on abusive practices that got us into this problem in the first place."
[Is he referring to Barney Frank??????]
He said, though, that the U.S. must have a strong and effective financial sector for the economy to grow, and that the financial regulation bill he championed ensures tougher oversight of the financial industry.