Barack Obama says banks show no regret for their role in the crisis

President Barack Obama said in interview with PBS television that Wall Street banks had failed to show remorse for the "wild risks" that triggered a financial collapse and helped to push the United States into recession. Earlier, Obama unveiled financial regulatory reforms in June aimed at improving government oversight of banks and markets to prevent a recurrence of the financial crisis. Shareholders should also have the right to weigh in on huge bonuses paid to executives, he said.

Wall Street paid more than $18 billion of bonuses in 2008, the year in which it needed trillions of dollars of taxpayer support.

In answer to the question if he was concerned about the leap in profits reported by banks Goldman Sachs and JPMorgan Chase & Co, Obama said his administration had less leverage over them now that they had repaid government bailout money.

Despite unemployment projected to rise above 10 % within months, the measures put in his place by his government to stabilize the economy were working, he said.