President Obama gave his speech on Wall Street today.

This was the bit I really liked:

Unfortunately, there are some in Congress who are misreading this moment. Instead of learning the lessons of the crisis from which we are still recovering, they are choosing to ignore them. They do so not just at their own peril, but at our nation’s.

So I want them to hear my words: We will not go back to the days of reckless behavior and unchecked excess at the heart of this crisis, where too many were motivated only by the appetite for corrupt legislation and squandering of public money.

Members of Congress cannot resume taking risks without regard for consequences, and expect that next time, American taxpayers will be there to break their fall.

That’s why we need strong rules of the road to guard against the kind of systemic risks we have seen. And we have a responsibility to write and enforce these rules to protect consumers, taxpayers, and our economy as a whole.

But the old ways that led to this crisis cannot stand. And to the extent that some have so readily returned to them underscores the need for change and change now. History cannot be allowed to repeat itself.

At least, I think that’s what I heard him say.