“The old ways that led to this crisis cannot stand.”

On Wall Street, Obama Pushes Stricter Finance Rules - NYTimes.com:

"“I want everybody here to hear my words,” Mr. Obama said. “We will not go back to the days of reckless behavior and unchecked excess at the heart of this crisis, where too many were motivated only by the appetite for quick kills and bloated bonuses. Those on Wall Street cannot resume taking risks without regard for consequences, and expect that next time, American taxpayers will be there to break their fall.”

Mr. Obama touted the administration’s plans to increase capital cushions at big banks, give the Federal Reserve new powers to oversee system-wide risks to the financial system and establish a new consumer-protection agency, which would have broad powers over home mortgages and other consumer loans.

Mr. Obama also urged banks to adopt changes before Congress acts by simplifying the language they use with consumers, overhauling their pay structures or allowing shareholders vote on 2009 bonuses."
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“At the same time, what we must do now goes beyond just these reforms,” Mr. Obama said. “For what took place one year ago was not merely a failure of regulation or legislation; it was not merely a failure of oversight or foresight. It was a failure of responsibility that allowed Washington to become a place where problems — including structural problems in our financial system — were ignored rather than solved.”