Obama warns Wall Street against complacency

New York, Sep 15: Speaking to the Wall street bosses on completion of one year since the collapse of Lehman Brothers that plunged the world into the biggest financial crisis, US President Barack Obama urged them to remember the lessons of the collapse and demanded that they embrace the new reforms.

"The old ways that led to this crisis cannot stand," Obama said, adding, "History cannot be allowed to repeat itself."

Bringing in financial reforms to prevent another economic collapse has been one of the priorities of the Obama administration.

Warning the financial bigwigs against complacency, Obama said, "Unfortunately, there are some in the financial industry who are misreading this moment. Instead of learning the lessons of Lehman and the crisis from which we're still recovering, they're choosing to ignore those lessons."

OneIndia News