Obama Hints at Action on Banker Bonuses

In an interview with NPR, President Obama said that reining in risk-taking on Wall Street "is an unfinished piece of business" for his administration. The president said his team is looking to "rebalance the economy sensibly" because "we continue to see a lot of these banks take big risks because the profit incentive and the bonus incentive is there for them." Namely, bonuses. "You can generate a huge amount of bonuses by making some big bets; you will be rewarded on the upside." He continued: "If you make a really bad bet, a lot of times you've already banked all your bonuses. You might end up leaving the shop, but in the meantime everybody else is left holding the bag.” This, he says, means he is "going to have to look at additional steps we can take."