June 2 (Bloomberg) -- Former Federal Reserve Chairman Paul Volcker speaks about the state of the U.S. financial system and economy.

In an address at Brooklyn Law School's commencement ceremony in New York, Volcker said a full economic recovery is years away, and the U.S. must eventually cut back on borrowing from abroad. (This report is an excerpt. Source: Bloomberg)

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-0- Jun/02/2009 21:48 GMT

Last Updated: June 2, 2009 17:48 EDT