(CNN) - President Obama on Friday criticized executives from BP and two other companies for blaming each other for the continuing oil leak in the Gulf of Mexico.
"I did not appreciate what I considered to be a ridiculous spectacle during the congressional hearings into this matter," the president said after meeting with Cabinet members to discuss the situation. "You had executives of BP and Transocean and Halliburton falling over each other to point the finger of blame at somebody else. The American people could not have been impressed with that display, and I certainly wasn't."
"I understand that there are legal and financial issues involved, and a full investigation will tell us exactly what happened. But it is pretty clear that the system failed, and it failed badly. And for that, there's enough responsibility to go around. And all parties should be willing to accept it," he said.
"It is absolutely essential that going forward, we put in place every necessary safeguard and protection so that a tragedy like this oil spill does not happen again.
"This is a responsibility that all of us share," he said. "The oil companies share it. The manufacturers of this equipment share it. The agencies in the federal government in charge of oversight share that responsibility. I will not tolerate more finger-pointing or irresponsibility."
Updated: 4:31 p.m.