Obama’s Trader Comments Rejected by Finance Executives
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President Barack Obama’s critique of trader bonuses at Wall Street banks as still risky to the economy drew objections from financial executives who said the compensation system already has been fixed.
In an interview aired today on American Public Media’s Marketplace radio program, Obama said bonuses encourage traders to “take big risks” that imperil the financial system’s stability. Cutting that risk remains an “unfinished piece of business” and his administration will be “looking at additional steps,” he said.