"You know, I think that Wall Street seems to maybe have a shorter memory about how close we were to the abyss than I would have expected," Obama said in an interview with Bloomberg News.
The president sat down for interview with Bloomberg and CNBC to preview his financial regulation reforms he'll roll out Wednesday.
"When I hear some of the commentary that's been creeping up about, 'You know, it's time for government to get out of the economy. And what's the Obama administration doing?'" Obama responded to critics in the business community on Bloomberg.
"I have to try to remind them -- all we're doing is cleaning up after the mess that was made," the president said.
Obama reiterated his hope that his administration would extricate itself from involvement in a number of companies once the economy has stabilized, but emphasized the need for new regulation as the economy moves forward into recovery.