Reform bill could lay path for global standards, Volcker says

06/9/2010 | CNBC

Paul Volcker, economic adviser to the White House and former chairman of the Federal Reserve, said the financial-reform bill could be approved in a "reasonable form." If so, it could provide a starting point for global coordination on regulatory change, Volcker said. "This is a battle. Make no mistake about it," he said. "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."

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