Paul Volcker

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
New York Times  Jan 22  Comment 
Goldman Sachs has found ways to put its money to work in formats that appear to comply with the Volcker Rule, but its investments have caused concern among some of its big clients.
MarketWatch  Jan 14  Comment 
The House bill would give banks until 2019 to comply with the Volcker rule’s regulation of complex loan obligations.
Clusterstock  Jan 13  Comment 
There's a big showdown brewing in Washington, D.C., over Wall Street regulation written during and just after the financial crisis. Sen. Elizabeth Warren (D-Mass.), Rep. Maxine Waters (D-Calif.) — all the usual suspects are involved. House...
MarketWatch  Jan 12  Comment 
The White House suggested on Monday that President Barack Obama would veto a proposed delay in the Volcker rule provision of the Dodd-Frank law. House Republicans are aiming to pass the delay by a simple majority vote following the House's failure...
Forbes  Jan 12  Comment 
Interestingly, Morgan Stanley has been expanding in the industry while sticking to the 3% limit laid out under the Volcker Rule for a bank?s use of its own money in any private fund. The investment bank is actually capitalizing on the strong...


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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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