Good chance for "reasonable" reform bill: Volcker

[ProSense]

Source: Reuters

MONTREAL (Reuters) – There is a good chance that the sweeping U.S. financial reform bill will be passed in a "reasonable form," White House economic adviser Paul Volcker said on Wednesday, adding the bill could provide a basis for international coordination on coherent legislation.

"This is a battle. Make no mistake about it," the former Federal Reserve chairman said at a conference here.

"But I do think that if we can get this bill passed in a reasonable form, and the prospects to me look pretty good, I think that we'll provide a basis for the other major countries to get together in a way that wasn't possible before.

"With the United States showing some leadership here," Volcker added, "I hope that we will see progress among the other major financial markets anyway in adopting legislation that fits in coherently with the American approach."




Read more: http://news.yahoo.com/s/nm/20100609/bs_nm/us_regulation_volcker_1

[yourout]

1. In other words....we get some piece of watered down crap that does nothing....

to prevent another collapse.

[KansDem]

2. Kind of like the "robust public option?"

And we all know where that went...

[DJ13]

4. But on the plus side the WH gets to clam victory

without the worry they have damaged the potential campaign funding from Wall Street for 2012.

[ProSense]

5. No. The

pending financial reform significantly cuts into Wall Street's profits.

More from Stiglitz.

[yourout]

7. I will belive it when I see it. Not a second before.

[Taverner]

3. I'm expecting tough measures, that are enforced voluntarlily

:rofl:.....:cry:

[Kolesar]

6. Oh, so sad!

you want company? :cry: