Obama's advice to bankers
Barack Obama, the US President, has repeatedly asked the banking institutions to lend more loans to people and small and businesses. He has also talked tough on many occasions and has asked bankers to be part of uplifting the US financial crisis. He has also held the banks responsible for creating such a situation.
Also, in his recent speech, Barack Obama said, "It is apparent that our existing misfortunes have proceeded solely from our extravagant and vicious system of paper currency and bank credits, exciting the people to wild speculations and gambling in stocks. These revulsions must continue to recur at successive intervals so long as the amount of the paper currency and bank loans and discounts of the country shall be left to the discretion of 1,400 irresponsible banking institutions, which from the very law of their nature will consult the interest of their stockholders rather than the public welfare..."
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