I’ll call him a Marxist even though the left has declared it the new N-word.
WASHINGTON (Reuters) — President Barack Obama said in an interview released on Thursday that the next important step for making the financial sector safer is to make sure executive pay is less closely tied to risky bets.
In an interview to be published on Friday in Rolling Stone magazine, Obama said that despite passage of Dodd-Frank financial reform legislation, there is more to be done to make financial markets safe after the damage caused by the crisis of 2007-2009.
“The single biggest thing that I would like to see is changing incentives on Wall Street and how people get compensated,” Obama said. It’s questionable, even after enactment of Dodd-Frank reforms, that those incentives have completely been changed, he added.
The Rolling Stone interview stirred controversy because of the president’s use, at one point, of a barnyard epithet that some saw as an attack on Republican Mitt Romney.
The White House did not dispute the remarks but a re-election campaign official stressed that the comments were “part of a casual conversation at the end of the interview.” The wide-ranging interview covers Obama’s first term, what he views as his biggest accomplishments and his fierce fight with Romney for the White House.