Volcker dusted off?

[oddlots]

Errr, not sure but "prevails" seems a little premature. But a first step in a better direction? Or maybe Volcker was playing possum?:


Paul Volcker Prevails

with 38 comments
Paul Volcker, legendary central banker turned radical reformer of our financial system, has won an important round. The WSJ is now reporting:

President Barack Obama on Thursday is expected to propose new limits on the size and risk taken by the country’s biggest banks, marking the administration’s latest assault on Wall Street in what could mark a return — at least in spirit — to some of the curbs on finance put in place during the Great Depression.

This is an important change of course that, while still far from complete, represents a major victory for Volcker – who has been pushing firmly for exactly this.


from



http://baselinescenario.com/2010/01/...cker-prevails/

[c1ue]

Re: Volcker dusted off?

Except we heard this in 2008 when Volcker was first appointed into the Obama team:

http://online.wsj.com/article/SB122771182170659659.html

For the third straight day, Mr. Obama made what he called a major economic announcement. He appointed former Federal Reserve Chairman Paul Volcker on Wednesday to be the chairman of a new White House advisory board. University of Chicago economist Austan Goolsbee, one of Mr. Obama's longest-serving policy advisers, will serve as the board's staff director, along with his duties as a member of the White House Council of Economic Advisers. Members of the panel will be drawn from a cross-section of citizens outside the government, chosen for their independence and nonpartisanship.
"Sometimes policy making in Washington can become a little bit too ingrown, a little bit too insular," Mr. Obama told reporters in Chicago. "The walls of the echo chamber can sometimes keep out fresh voices and new ways of thinking."

Maybe it will be different this time, or maybe it again is just the hermit crab changing into a more convenient shell for the nonce.

[Diarmuid]

Re: Volcker dusted off?

Except we heard this in 2008 when Volcker was first appointed into the Obama team:

http://online.wsj.com/article/SB122771182170659659.html



Maybe it will be different this time, or maybe it again is just the hermit crab changing into a more convenient shell for the nonce.

As Barrack O Bush or George Obama said, not sure which, either way I think he was a Repubrocrat

"There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again." :p

[oddlots]

Re: Volcker dusted off?

As Barrack O Bush or George Obama said, not sure which, either way I think he was a Repubrocrat

"There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again." :p

Errr, there was a question mark on the title of the thread, but yeah I think you're right: post falls in the embarassingly naive bin of this "contributing ituliper."

But really, what a weird day: Buffet comes out praising Geithner, Bernanke; Volcker actually appears in the MSM; Obama appears to bite the hand that feeds; markets tank.

Not that any of this doesn't make sense.

My point: it was busy, ok.

[Diarmuid]

Re: Volcker dusted off?

Errr, there was a question mark on the title of the thread, but yeah I think you're right: post falls in the embarassingly naive bin of this "contributing ituliper."

But really, what a weird day: Buffet comes out praising Geithner, Bernanke; Volcker actually appears in the MSM; Obama appears to bite the hand that feeds; markets tank.

Not that any of this doesn't make sense.

My point: it was busy, ok.

lol - Oddlots was not trying to be disparaging just having some fun - agreed though busy day, we shall see.

[oddlots]

Re: Volcker dusted off?

I now know what I think about it all since Jesse has just blogged me my opinion:

http://jessescrossroadscafe.blogspot...anks-from.html