All of this explains why, when laws are broken, you and your institutions get off with nothing more than a slap on the wrist—fines paid by shareholders that you can write off as nothing more than business expenses. No admission of guilt, no one faces jail time, everybody keeps their jobs — back to bonuses as usual.

As President, I would end this double standard of justice. It is bad for our economy, and it is bad for our country.

A strong American economy depends on a strong, financial industry that plays by the rules. And among the greatest victims of your megabanks have been the thousands of community banks that are the backbone of our economy. These banks provide the financing for the American Dream of homes, businesses, educations, and secure retirements. Yet they’re forced to compete on an un-level playing field—one where they bear the brunt of declining credit and wages—and where megabanks are rewarded with subsidies and bailouts.

So here’s the bad news—for you: As President, I have no plans to let up on you. I’ll work tirelessly to eliminate the unique danger posed by the handful of too-big-to-fail banks. And while I’m doing that, I’ll finally bring real enforcement and oversight to the federal government—to agencies and departments like the Department of Justice, Securities and Exchange Commission, Federal Reserve, Commodity Futures Trading Commission—so that they start doing the job the American people expect them to do and stop sitting on their hands.

He said he's giving a major policy speech July 23 to discuss this in detail. I look forward to seeing the entire speech. I know the great folks here in this group will post it here. Thank you folks.