NEW YORK, Sept. 14 (UPI) -- U.S. President Barack Obama urged financial firms Monday to "embrace" regulatory reforms proposed by his administration, saying they owe a debt to taxpayers.
Reminding financiers that middle-class families are bearing the burden of financial institution bailouts, Obama, speaking at the Freedom Hall National Memorial on New York's Wall Street, called on bankers "to embrace serious financial reform, not fight it," and to not "shirk your obligation to the goal of wider recovery" by returning to excessive risk-taking.