President Obama Warns Wall Street Againt High-Risk Behavior

NEW YORK (AP) - President Barack Obama says he sees new signs of the kind of high-risk business behavior that nearly caused a financial meltdown a year ago and is warning Wall Street there won’t be another bailout.

In a widely anticipated speech in the heart of New York’s financial district, Obama also said he feels confident that the country’s financial system has been steadied.

But he urged Congress again to pass legislation putting stronger controls on the system, saying that the piecemeal approach in place when things cascaded toward meltdown last year must be corrected.