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October 7, 2011

Obama: Occupy Wall Street Reflects Wide "Frustration" 
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At the White House, President Obama weighed in on the "Occupy Wall
Street" protests for the first time. Speaking at a news conference,
Obama said he understands the protesters' "frustration," but ultimately
believes in the financial sector.

President Obama: "Obviously I’ve heard of it. I’ve seen it on
television. I think it expresses the frustrations that the American
people feel — that we had the biggest financial crisis since the
Great Depression … and yet you’re still seeing some of the same
folks who acted irresponsibly trying to fight efforts to crack down on
abusive practices that got us into this problem in the first place. So,
yes, I think people are frustrated, and the protesters are giving voice
to a more broad-based frustration about how our financial system works.
Now, keep in mind I have said before and I will continue to repeat, we
have to have a strong, effective financial sector in order for us to
grow."



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