Obama’s Remarks on Limiting Executive Pay

President Barack Obama ’s remarks, as prepared for delivery Wednesday: Thank you, Tim, for your hard work on this issue and on our economic recovery. The economic crisis we face is unlike any we’ve seen in our lifetime. It’s a crisis of falling confidence and rising debt. Of widely distributed risk and narrowly concentrated reward. A crisis written in the fine print of sub-prime mortgages, on the ledger lines of once-mighty financial institutions, and on the pink slips that have upended lives and cost the economy 2.6 million jobs last year alone. We know that even if we do everything we should, this crisis was years in the making, and it will take more than weeks or months to turn things around. But make no mistake: A failure to act, and act now, will turn crisis into a catastrophe and guarantee a longer recession, a less robust recovery, and a more uncertain future. Millions more jobs will be lost. More businesses will be shuttered. More dreams will be deferred. That’s why I ... (link)