Obama Accepts Blame for AIG; Expect Massive Changes to Businesses, Regulations

“Washington is all in a tizzy and everybody is pointing fingers at each other and saying it’s their fault, the Democrats’ fault, the Republicans’ fault,” he said at a town hall meeting Wednesday. “Listen, I’ll take responsibility. I’m the President.”

He also make clear that it isn’t really his fault. “We didn’t grant these contracts,” he said.

But he added: “So for everybody in Washington who’s busy scrambling, trying to figure out how to blame somebody else, just go ahead and talk to me, because it’s my job to make sure that we fix these messes, even if I don’t make them.”

The comments were an effort to change the subject, which has engulfed Washington this week, and pivot to his push to overhaul financial regulations that govern the system and that many blame for the underlying problems.

“We’ve got to make sure that we’ve got regulations that don’t allow companies to take these huge risks that are so big that they can sort of hold us hostage,” he said.

Read the rest from The Wall Street Journal:
http://online.wsj.com/article/SB123
742582093579655.html?mod=arti
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Related:
Obama, Pelosi: Anything to Win 

Robert Reich: AIG,Transparency, Treasury, Fed: Lost?

Obama, Congress, Treasury, Fed: Shameful Mismanagement of Your Money, Recovery

 Did Obama White House Fuel AIG Bonus Mess To Enact Tougher Rules With Public Support, “Outrage”?

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