As Fed chair in 1980s, he faced down runaway inflation; later, his ‘Volcker Rule’ was controversial element of postcrisis regulation in Obama years
As banks step away from proprietary trading to comply with regulations, many have criticized the rules for drying up liquidity. Paul Volcker, who helped shaped many of these regulations, says the criticism hinges on the definition of liquidity.
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Like the policy of validated value
RIP
Good. Fuck him.
Shame it didn't happen 50 years earlier. As he said when trying to 'defeat runaway inflation' that he did on the backs of the average American worker, “The standard of living of the average American has to decline'. Fuck him.
pamwallace Simpler times...
End that shit
Chairman Volcker not only forcefully tamed the running away inflation in the early eighties, but later in 2008/09 again took a very unpopular stand to help Obama to combat the Great Recession by tightening the grab of the Fed as the gatekeeper of the fast-losing financial market.
So, it’s him we have to thank for a federal reserve with no checks and balances, no audit.
F
Great man. RIP
Volker was a great American who contributed to prosperity of USA!
Your inner conscience has died because of Smoking, Alcohol, Drug, PORN, Premarital Sex and Extramarital Affairs. Until you REVIVE IT by quitting all your GOOD habits....you can never make our USA happy & healthy. OUR USA IS CRYING FOR HELP. BUT...U DON'T WANT TO LOSE UR FREEDOM.