[ObamaWhiteHouseArchive]...And finally, because of this law, the American people will never again be asked to foot the bill for Wall Street’s mistakes. (Applause.) There will be no more tax-funded bailouts -- period. (Applause.)
If a large financial institution should ever fail, this reform gives us the ability to wind it down without endangering the broader economy. And there will be new rules to make clear that no firm is somehow protected because it is "too big to fail," so we don’t have another AIG.