Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Volcker Spares No One in Broad Critique
Old 09-24-2010, 10:28 AM   #1
MichaelB's Avatar
Join Date: Jan 2008
Location: Gone fishing
Posts: 25,808
Volcker Spares No One in Broad Critique

I always find Chairman Volker refreshing and wouldn't mind seeing him back at the Fed - or the Treasury.

Former Federal Reserve Chairman Paul Volcker scrapped a prepared speech he had planned to deliver at the Federal Reserve Bank of Chicago on Thursday, and instead delivered a blistering, off-the-cuff critique leveled at nearly every corner of the financial system.

Standing at a lectern with his hands in his pockets, Volcker moved unsparingly from banks to regulators to business schools to the Fed to money-market funds during his luncheon speech.
He praised the new financial overhaul law, but said the system remained at risk because it is subject to future judgments of individual regulators, who he said would be relentlessly lobbied by banks and politicians to soften the rules.

Volcker Spares No One in Broad Critique - Real Time Economics - WSJ

MichaelB is online now   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 09-24-2010, 10:45 AM   #2
Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 3,962
This certainly isn't the biggest issue he mentions, but it happens to agree with one of my opinions, so I'll quote it:

12) Money market funds — “Money market funds have encroached so much on the banking market. They are nothing, in my view, but a regulatory arbitrage. The purpose that they serve in handling payments and short term paper is a commercial banking function” but they don’t hold the capital or face the regulation of banks.
To me, it's just one example that I can understand of how regulators didn't want to expand bank regulations to cover shadow banking. I'm encouraged by the comment in the article that he finds the fin reg bill useful. But personally, I think I'll stay way over-weighted in TIPS.

Independent is offline   Reply With Quote
Old 09-24-2010, 11:46 AM   #3
Full time employment: Posting here.
Join Date: Oct 2009
Posts: 989
Originally Posted by MichaelB View Post
I always find Chairman Volker refreshing and wouldn't mind seeing him back at the Fed - or the Treasury.
Nice thought but never going to happen. Unfortunately Volcker has been mainly window dressing for Obama.
LARS is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
No bottom in sight: Soros and Volcker Martha FIRE and Money 17 02-23-2009 02:15 PM
Critique me, please??? Space Mountain Hi, I am... 6 11-02-2007 05:04 PM
please critique us! tangomonster Hi, I am... 27 03-24-2006 07:18 PM
Volcker Sees More Decline in Dollar Ahead Hyperborea FIRE and Money 11 12-06-2004 03:58 PM


All times are GMT -6. The time now is 10:02 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.