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Obama's First State of the Union Address (Transcript) - Financial Reform

Contents

Obama's First State of the Union Address (Transcript)
The Recession
The Bank Bailout
The Recovery Act
New Jobs Bill
Reforms Cannot Wait
Financial Reform
Innovation and Clean Energy
Exports and Fair Trade
Education
Health Insurance
The Deficit
Ethics and Transparency
Bipartisanship
National Security
Foreign Relations
Civil Rights
American Values
Political Setbacks and Disillusionment
Conclusion: The American Spirit
All Pages

Now, one place to start is serious financial reform. Look, I am not interested in punishing banks. I'm interested in protecting our economy. A strong, healthy financial market makes it possible for businesses to access credit and create new jobs. It channels the savings of families into investments that raise incomes. But that can only happen if we guard against the same recklessness that nearly brought down our entire economy.

We need to make sure consumers and middle-class families have the information they need to make financial decisions. (Applause.) We can't allow financial institutions, including those that take your deposits, to take risks that threaten the whole economy.

Now, the House has already passed financial reform with many of these changes. (Applause.) And the lobbyists are trying to kill it. But we cannot let them win this fight. (Applause.) And if the bill that ends up on my desk does not meet the test of real reform, I will send it back until we get it right. We've got to get it right. (Applause.)



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