Mr President-what’s going on?
In case you missed the 60 minutes interview with Obama. Some important questions were asked during the course of the interview. What about the fact that nobody still has been held accountable for any of the wrongdoings in the Financial “self regulated” Industry and the crisis we are still struggling with? From CBS:
Steve Kroft: One of the things that surprised me the most about this poll is that when asked who your policies favor the most, 42 percent said Wall Street. Only 35 percent said average Americans. My suspicion is, some of that may have to do with the fact that there’s not been any prosecutions, criminal prosecutions, of people on Wall Street. And that the civil charges that have been brought have often resulted in what many people think have been a slap on the wrist, fines. Are you disappointed by that?
President Barack Obama: You know, I can’t, as President of the United States, comment on the decisions about particular prosecutions. That’s the job of the Justice Department. And we keep those things separate, so that there’s no political influence on decisions made by professional prosecutors. I can tell you, just from 40,000 feet, that some of the most damaging behavior on Wall Street, in some cases, some of the least ethical behavior on Wall Street, wasn’t illegal. That’s exactly why we had to change the laws. And that’s why we put in place the toughest financial reform package since F.D.R. and the Great Depression.
The implementation of those reforms is still being fought over, with the banking industry and the Republican leadership trying to limit their scope. Just another symptom of the political standoff that has paralyzed Congress since the negotiations to raise the debt ceiling and reduce the deficit began last summer.
Full Transcripts and video below.