And to ensure that a crisis of this magnitude never happens again, I ask Congress to move quickly on legislation that will finally reform our outdated regulatorysystem.
They've lost their job because we had a risky financial system of which the President wants financial regulatoryreform to lay down rules of the road so it never happens again.
He pledged to reform "a weak and outdated" regulatorysystem to protect consumers and investors from the "reckless greed and risk-taking" that should "never endanger our prosperity again".
Under the auspices of the Financial Stability Board, more than 30 recommendations have been set out as part of a massive and far-reaching G-20 financial regulatoryreform package to ostensibly minimize risk in the financial system and maximize consumer protection.
Unfortunately the whole point of financial regulatoryreform was to improve access to credit for the middle class and to fix the banking system so the economy can rebound.