On the record: Paul Volcker

I appreciate the opportunity to appear before you this morning. You are dealing with critically important issues. The laws passed in the 1930's successfully dealt with the grave weaknesses in the financial system at that time, weaknesses that contributed to the severity of the Great Depression. The legislation you are debating this year should set out a constructive path for a reformed financial system for years ahead.

Now the financial pressures have eased and there are signs of renewed economi