WASHINGTON (AP) — President Barack Obama says in an interview that there still are not enough adequate means of holding risk takers in the banking industry accountable if their investment schemes fail.
Obama, who once called bank executives "fat cats" and their pay "obscene," says Wall Street needs to change executive pay incentives that reward risky bets that can yield fortunes but can also devastate financial institutions.
In an interview with Rolling Stone magazine, Obama says the whole system is still tilted in favor of risky behavior.
Obama's appearance on the magazine's cover comes less than two weeks before the Nov. 6 election and underscores the president's outreach to young voters in key battleground states. Obama also has agreed to an interview with MTV that is to air Friday.
The wide ranging interview with presidential historian Douglas Brinkley covered a variety of topics.
Sound: upcoming
