I think Volcker gets big reputation boost from breaking the back of inflation back in the day. Now he’s a chief Obama advisor and behind this whole bank breakup between banks and trading etc…what’s your take on the guy now?
He sucks.
more please.
“ATM Machine was the greatest advance in Finance…”
haha I just looked that up…http://seekingalpha.com/article/177300-paul-volcker-atm-was-the-peak-of-financial-innovation
If there was a finance hall of fame, Volcker would be a first ballot choice. His work in the early 80’s was legendary.
Old people suck
Smart man…very smart indeed. Doing exactly whats needed.
He’s objective, which is more than the current Treasury and Fed chiefs can claim. They are too close to the Street to do their jobs properly.
maybe he should be the new Fed chief? First one to be reinstated…
Am I missing something here? He definitely gets credit for dealing with stagflation in the 1970s, but he was in office up to (cough) 1987…
@marcus: if he’s so freaking smart WTF has the administration kept him under lock and key until they lost MA. Either he’s smart or Obama/his cabinet are stupid. Sorry, but you can’t have it both ways. Personally, I lean towards the latter.
He just did an interview with Bloomberg/Business Week. He has stated his disagreements with the administration and will most likely see more playing time. He wants to bring back Glass Steagall which would probably send the markets falling in the short term, but be a long term benefit.
BizBanker Wrote: ------------------------------------------------------- > He wants to bring back Glass > Steagall which would probably send the markets > falling in the short term, but be a long term > benefit. That would be the best bitter medicine for the economy.