Transcript of Speech is Available at Brooklyn Law School Web Site
A transcript of the speech is available at the Brooklyn Law School Web site, www.brooklaw.edu
Mr. Volcker said the nation has long been spending beyond its means. The U.S. faces "an unimaginable budget deficit as far as one can see," he said. The recession, which began in
He said that new regulations are necessary to prevent another crisis. "In my view, as joined by many others, sweeping reforms are truly necessary, in banking, in markets, and in our regulatory institutions," Mr. Volcker said.
Although he has received honorary degrees from a number of colleges and universities, Brooklyn Law School is the first law school to honor Mr. Volcker with its highest degree, an honorary doctor of laws.
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SOURCE Brooklyn Law School