Paul Volcker, an economic adviser to the Obama administration and former chairman of the Federal Reserve, warned about a failure to implement financial reform in an opinion piece in The New York Times. "The implication is clear. We need to face up to needed structural changes, and place them into law," Volcker wrote. "To do less will simply mean ultimate failure -- failure to accept responsibility for learning from the lessons of the past and anticipating the needs of the future."

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Reuters, NYTimes.com

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