You just watched a video in which President Obama announces his plan for financial regulatory reform.
According to President Obama, what are the reasons for the financial crisis?
1. Irresponsible risk-taking and excessive greed among financial institutions.
2. Lack of oversight and regulation by government agencies.
3. Failure of existing regulatory framework to keep pace with rapidly evolving financial markets.
4. Complexity and lack of transparency in financial products and transactions.
5. Inadequate consumer protection measures.