Obama on Madoff scandal, Rick Warren

From NBC's Athena Jones CHICAGO -- The $50 billion Bernard Madoff scandal that has rocked New York took center stage here at Obama's press conference this morning, as the president-elect pointed to the massive Ponzi scheme as another indication that the nation's financial regulatory system must be overhauled. He also responded to the controversy surrounding his selection of evangelical minister Rick Warren to give the invocation at his inauguration on Jan. 20. On the campaign trail this fall, as the crisis on Wall Street worsened, Obama spoke frequently about the need for what he called a 21st-century regulatory framework. He stressed that theme again today in announcing Mary Schapiro as his pick to head the Securities and Exchange Commission, Gary Gensler to head of the U.S. Commodity Futures Trading Commission, and Georgetown professor Daniel Tarullo to an open Federal Reserve Board seat. “In the last few days, the alleged scandal at Madoff Investment Securities has reminded us yet ... (link)