White House: ‘It Is Amazing That There Are Still Those Who Are Out There Arguing We Should Repeal Wall Street Reform’
As Air Force Once flew President Barack Obama to New York for a commencement speech at Barnard College, a pair of fundraisers and a taping of The View, White House Press Secretary Jay Carney held a brief mid-air gaggle with reporters where he discussed J.P. Morgan’s $2 billion loss. Though Mr. Carney would not comment on the S.E.C.’s investigationinto the firm, he said the incident proves the need for the Dodd-Frank Wall Street reform bill that was signed into law by the president in 2010.
“What I can say is this event reinforces why it is so important to pass Wall Street reform,” Mr. Carney said according to the press pool report. “The president fought very hard against Republicans and Wall Street lobbyists to get Wall Street reform passed and also worked very hard to ensure the protection bureau was part of it and fought hard to make sure the Volcker rule was part of it.” Read More