Powered by i.TV
December 18, 2014
TV's Best Video Clips - Updated Daily

Obama on '60 Minutes': Some of Least Ethical Behavior on Wall Street Was Legal (VIDEO)

by Jason Hughes, posted Dec 12th 2011 6:00AM
President Barack Obama, '60 Minutes'President Barack Obama sat down with Steve Kroft on '60 Minutes' (Sun., 7PM ET on CBS), where he was asked about the government's handling of the current financial situation. Kroft said that 42 percent of Americans believe Obama's policies favor Wall Street, while only 35 percent said they favor average citizens.

While Obama said that he couldn't talk specifics in regards to the lack of prosecutions on Wall Street, as that's controlled by the Justice Department, he did offer one key observation.

"I can tell you ... some of the least ethical behavior on Wall Street, was indeed legal," Obama said. "That's exactly why we had to change the laws. And that's why we've put in place the toughest financial reform package since FDR and the Great Depression."



Add a Comment

*0 / 3000 Character Maximum

8 Comments

Filter by:
DanielVincentKelley

BULLSH*T!
There doesn't have to be a specific law against unethical behavior for it to be held by a jury as illegal. For it to be illegal there only has to be proven harm and intent to do that harm to the victims of the crime by the perpetrator of the crime. Obama's a fkn super moron making this pronouncement, BOLDLY intentionally melting down the world economy is perfectly legal, obviously not. OBVIOUSLY there will be victims in that, obviously people will be literally killed by such a monstrous cash snatch leaving all society without the means to feed or house or clothe themselves. This was wrose than just criminal, this was damnable behavior and by my knowledge it was vastly murderous what these callous clowns have done to the world by finance. Easily this is all criminal, but obviously we can't expect their criminal cronies in the Obama White House to prosecute them, the criminal banksters. If we want justice, we're going to have to demand it AND enforce it.

December 31 2011 at 9:03 PM Report abuse rate up rate down Reply
hrdbal51

The turning point for me was Obama's smug chuckle at some people thinking he is a radical socialist. What a self incriminating indictment that moment was for Obama. It proved just how bad a radical socialist he really is. The man should be impeached before he destroys the America Constitutional way of life.

December 13 2011 at 5:25 PM Report abuse rate up rate down Reply
Paige Cohen

Retire Obama.

December 12 2011 at 9:16 PM Report abuse rate up rate down Reply
Smithreg5

That's BS your comments about President Obama. The same failed system that was in place before he took office is what you guys what to go back to. It is ashamed that the Republican party can't deal with change and you can tell by your comments that you are Republican. I thought that we were Americans first and party second . It is so hard for the Republican to understand that they don't have all the answers for the world we live in. It was the deregulation of Wall Street that got America in this mess and it is taking President Obama time to get us out of this mess. It will take more than one term to correct this problem.

December 12 2011 at 3:04 PM Report abuse +2 rate up rate down Reply
theorumble

Always remember : It is not what the Presidents says . It is what he does. Think about it. Hope and change ? Lobbyist ? War. Taxes and spending . Young people wake up ! if you stay with this guy you will destroy your own future.

December 12 2011 at 2:43 PM Report abuse -1 rate up rate down Reply
1 reply to theorumble's comment
ihateher

I forgot that Obama was president when the (illegal) war started. SMH

December 12 2011 at 2:54 PM Report abuse rate up rate down Reply
john

There's stricter laws on wall street? Shame nobody told the guys working on Wall St that.

December 12 2011 at 9:51 AM Report abuse rate up rate down Reply
1 reply to john's comment
john

Not that it matters because they will just pay more people to get out of jail.

December 12 2011 at 9:52 AM Report abuse rate up rate down Reply

Follow Us

From Our Partners