Dec 14, 2009 9:32 AM by Associated Press

Axelrod: Obama to lecture banks on accountability

A top adviser to President Barack Obama says the White House is telling the banking industry it helped create last year's near economic meltdown and it has to be "part of the solution."

Previewing a meeting Obama will have later Monday with industry leaders, David Axelrod said there simply has to be easier credit for businesses to reinvest and do the hiring needed to bring down double-digit unemployment. Axelrod said the message to bankers is: "You have to accelerate lending to credible small businesses."

He spoke a day after Obama, in an interview CBS's "60 Minutes," said he didn't run for president to "be helping out a bunch of fat cat bankers."


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