Paul Volcker

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The Economist  Apr 23  Comment 
“NO ONE is happy,” says Paul Volcker, a former chairman of the Federal Reserve, referring to the chaotic, overlapping and unaccountable sprawl of government agencies regulating America’s financial institutions. This week a group of wise men...
Yahoo  Apr 20  Comment 
The U.S. financial regulatory system is outdated and riddled with loopholes, former Federal Reserve Chairman Paul Volcker said on Monday as he offered an overhaul plan to make watchdogs more effective. The rise of the shadow banking sector -...
MarketWatch  Apr 20  Comment 
Former Federal Reserve Chairman Paul Volcker urged a massive overhaul of the financial regulatory oversight system on Monday, pressing for a simpler way to monitor markets and banks.
Yahoo  Apr 20  Comment 
Former Federal Reserve Chairman Paul Volcker is calling for a reshaping of the U.S. financial oversight regime, which he says is splintered and ineffective.
MarketWatch  Apr 17  Comment 
Why is GE dumping banking, and why is Paul Volcker looking to shake up Washington? David Weidner has answers.
Financial Times  Mar 20  Comment 
Former Fed official inspires Tokyo’s battle to drive the economy
MarketWatch  Mar 17  Comment 
Treasury Secretary Jacob Lew said that blame for the bond market “flash crash” last fall should not be laid at the feet of U.S. financial regulators.
Mondo Visione  Feb 27  Comment 
Thank you, Mr. Fumiaki Miyahara, for your kind introduction. Before I begin my remarks, I am required to tell you that the views I am expressing today are my own and do not necessarily reflect those of the United States Securities and Exchange...
Financial Times  Feb 23  Comment 
Regulators, like film censors, rely on complicated metrics to decide which trades are legal




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Image:PaulVolcker.jpg Paul Adolph Volcker was Federal Reserve Chairman under United States Presidents Jimmy Carter and Ronald Reagan (from August 1979 to August 1987). He is currently chairman of the newly formed Economic Recovery Advisory Board under President Barack Obama[1].

Volcker is credited to have lifted the US economy out of a decade stagflation that sported such negative highlights as 21% interest rates, solid two-digit-inflation and unemployment rates topping 10% after he took over the job from his predecessor G. William Miller.

Latest developments in 2010

After a 22-year semi-retirement Volcker was appointed as head of Economic Recovery Advisory Board under President Barack Obama in early 2009. Volcker, always a staunch advocate of balanced budgets, who told the world as early as 2006 that the USA's deficit spending is unsustainable, landed a surprise victory when US President Barack Obama largely followed his proposals in January 2010 that will (as of January 2009) ban proprietary trading for banks receivinf federal money and essential re-introduce the Glass-Steagall Act that separated investment banks and such taking deposits from 1933 to 1999. It is coming as a surprise that Volcker outgunned Wall Street-pal Treasury Secretary Timothy Geithner who had opted for more lax deals for his Wall Street friends. Whether this means Obama moves from Wall Street to Main Street is up to your mind.

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