Paul Volcker

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CNNMoney.com  Jan 9  Comment 
Big banks shouldn't act like hedge funds by making dangerous bets that can ruin the economy.
Yahoo  Jan 4  Comment 
In interviews over the past several weeks, half a dozen industry lobbyists said they began meeting with legislative staff after the U.S. election in November to discuss matters including a rollback of Volcker, part of the Dodd-Frank financial...
Clusterstock  Dec 27  Comment 
It's the talk of Wall Street. The prospect of deregulation following the election of Donald Trump — and specifically some kind of softening of the Volcker rule — is being discussed far and wide. Now it seems the Federal Reserve has...
MarketWatch  Dec 13  Comment 
Big banks can obtain more time to sell certain investment fund holdings banned by the so-called Volcker rule, the Federal Reserve said Monday.
Mondo Visione  Dec 12  Comment 
The Federal Reserve Board on Monday announced additional details regarding how banking entities may seek an extension to conform their investments in a narrow class of funds that qualify as "illiquid funds" to the requirements of section 619 of...
Reuters  Dec 12  Comment 
The Federal Reserve Board laid out on Monday how U.S. banks can apply to take five more years to comply with the Volcker Rule, a reform emerging from the 2007-09...
Mondo Visione  Dec 5  Comment 
Today’s event and the work of the Volcker Alliance importantly focus on the unfinished business of financial reform, in particular the challenges posed by our fragmented regulatory system.  I would like to begin this morning, however, by...
Forbes  Nov 29  Comment 
When I started managing money in the early 1980s, U.S. interest rates were in the double digits in the days of the Volcker led Federal Reserve. Over thirty years later, it’s clear that I’ve seen a thing or two when it comes to market cycles....




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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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