From the WH transcript at whitehouse.gov:
(light triggers, many bullets lol...)
SENATOR FEINSTEIN: Mr. President, what do we do about weapons of war, easily accessible on our streets?
THE PRESIDENT: What you’re going to have to do is discuss it with everybody. (Laughter.) And any solution — no it’s a very complex solution. You do.
SENATOR FEINSTEIN: (Inaudible.)
THE PRESIDENT: You have weapons on the street. That’s what we were talking about with black market. These are black market weapons. You know, the problem, Dianne, is that these aren’t where you walk into a store and buy. These are where somebody hands you a gun and you hand them some money.
SENATOR FEINSTEIN: Oh, no, you go into a store and you can buy an AR-15.
THE PRESIDENT: You can.
SENATOR FEINSTEIN: You can buy a TEC-9. I mean you can buy all these weapons.
THE PRESIDENT: Well, this is what you’re going to have to discuss, Joe —
SENATOR FEINSTEIN: Light triggers, many bullets —
THE PRESIDENT: Yeah. Joe and Pat, you’re going to have to discuss that. You’ll sit down with Dianne, and everybody else and you’ll come up with up something.
And I think it — I really believe it has to be very strong. I’d rather have you come down on the strong side instead of the weak side. The weak side would be much easier. I’d rather have you come up with a strong, strong bill. And really strong on background checks.
With that, I just — we’ll end it, but I just want to thank everybody. I really believe we’re going to — we’re on the road to something terrific. Thank you all very much. Thank you. Thank you very much.