Summers: Wall St reform "imperative" for business trust

WASHINGTON Thu Apr 22, 2010 5:29pm EDT

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WASHINGTON (Reuters) - White House economic adviser Larry Summers said on Thursday a failure to reform financial regulations would impair business confidence in the financial system.

"That's why we believe stronger regulation is a confidence imperative," Summers told PBS in an interview. He predicted some Republican support in Congress to help President Barack Obama's Democrats pass a reform bill with a "strong mandate."

(Reporting by Matt Spetalnick)