Jonathan Burton

Obama blasts Wall Street for economic crisis

SAN FRANCISCO – President Barack Obama on Saturday blasted Wall Street for worsening the economy’s downturn and promised to make financial markets more transparent and accountable. In his weekly radio and Internet address Saturday, the president applauded the House of Representatives for passing sweeping financial reform legislation on Friday and said the economy is recovering from the “irresponsibility” of Wall Street firms that “gambled on risky loans and complex financial products, seeking short-term profits and big bonuses.” It was “risk management without the management,” Obama said.