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Obama: Wall Street reform is unfinished business

President Barack Obama in the Rose Garden.
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President Barack Obama in the Rose Garden.

President Barack Obama says his economic team is looking at more Wall Street regulations, especially when it comes to what he calls risky behavior by big banks.

"What I've said to my economic team is that we have to continue to see how can we re-balance the economy sensibly," Obama told NPR Marketplace.

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The goal, he said, is "a banking system that is doing what it is supposed to be doing to grow the real economy, but not a situation in which we continue to see a lot of these banks take big risks because the profit incentive and the bonus incentive is there for them."

Obama told NPR Marketplace that "more and more of the revenue generated on Wall Street is based on arbitrage -- trading bets -- as opposed to investing in companies that actually make something and hire people."

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Four years after Obama signed a package of new financial regulations, Obama said that "one of my key focuses over the last couple of years has just been to make sure that we've got a circuit breaker so that if certain banks are making bad decisions, they are less likely to bring down the entire system, which is what happened in 2007, 2008."

By David Jackson of USA Today

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