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Good chance for "reasonable" reform bill: Volcker

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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-09-10 04:00 PM
Original message
Good chance for "reasonable" reform bill: Volcker
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...
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yourout Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-09-10 04:02 PM
Response to Original message
1. In other words....we get some piece of watered down crap that does nothing....
to prevent another collapse.

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KansDem Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-09-10 04:04 PM
Response to Reply #1
2. Kind of like the "robust public option?"
And we all know where that went...
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DJ13 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-09-10 04:06 PM
Response to Reply #1
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.

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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-09-10 04:10 PM
Response to Reply #1
5. No. The
pending financial reform significantly cuts into Wall Street's profits.

More from Stiglitz.



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yourout Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-09-10 05:03 PM
Response to Reply #5
7. I will belive it when I see it. Not a second before.
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Taverner Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-09-10 04:05 PM
Response to Original message
3. I'm expecting tough measures, that are enforced voluntarlily
:rofl:..... :cry:
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Kolesar Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-09-10 04:27 PM
Response to Reply #3
6. Oh, so sad!
you want company? :cry:
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