Comment: Volker

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In reply to comment: Not Summers or Geithner, please (see in situ)


I'll take Volker. If we are stuck with the Fed he's the guy I want as Chairman.

The President displayed great wisdom & judgement when he asked him to come out of retirement and join as an economic adviser. Volker was able to see the problem: we have to make a clear separation between retail banking and merchant banking. We need to reign in derivative trading. We need to get back to sound economic principles.

Oh, sorry, that's right... the President decided it was better to gut the Volker Rule and sideline Paul Volker in favor of Timothy Geithner and the Merchant Banks. Forget what I said above.

"One resists the invasion of armies; one does not resist the invasion of ideas" Victor Hugo