Live

Watch CBSN Live

Unplugged: Obama Has Not Emphasized Financial Reform

On "Washington Unplugged" Monday, CBS News White House correspondent Mark Knoller said that President Obama's mission on Wall Street today was to convince Americans that "…he is trying to wind down the role of the government in the private sector . "

"President Obama today is going to Wall Street in order to make the case that the government has taken steps to bring the financial markets back from the brink of financial collapse," Knoller said of the president's Manhattan appearance. "Plus he is going to announce steps he wants Congress to enact."

Moderator John Dickerson asked if the president was on a public relations mission to prove that his administration does not advocate government control of the financial sector.

"You bet it is," Knoller said. The president, he said, "wants the American people to know that some of that money [used for the financial bailout] has been paid back with interest."

And his message to Wall Street?

"He wants to level the case that…he refuses to let Wall Street to go back to the reckless behavior that led them into the crisis," Knoller said, adding that he is urging Congress to pass regulatory reforms on major financial companies.

Knoller – CBS News' resident archivist gave Dickerson the numbers to prove where the president's focus lies – on health care, not financial regulations.

"I went back and checked my records and quick look at the number of speeches he has made specifically on regulatory reform to the financial markets its only two. Today will be his third speech," he said.

"Compare that to health care where so far he has made thirty two speeches specifically on health care reform."

Watch the full interview above as well as an amusing look at the vocabulary used on the Sunday shows yesterday.

Obama Criticizes Wall Street "Complacency"

Video: Obama on the Necessity of Reform

Jill Schlesinger: Obama's Financial Reform Is All Talk, No Action

Text of Mr. Obama's Remarks

"Washington Unplugged" appears live on CBSNews.com each weekday at 12:30 p.m. ET. Click here to check out previous episodes.


View CBS News In
CBS News App Open
Chrome Safari Continue