Skip to content




“Wake Up” Call from Volcker

Paul Volcker, the formal chairman of the federal reserve and notorious champion over the stagflation of the early ’80’s, has become more vocal in his criticism of Wall Street.  He mocked the self-appreciating bankers by saying that the biggest financial innovation in the past 20 years was the cash (ATM) machine. When the bankers protested any suggestion of “stifling financial innovation” he said, “I wish someone would give me one shred of neutral evidence that financial innovation has led to economic growth — one shred of evidence”.

This is a welcome response from a respected former chairman with an appreciation of inflation and its destructive effects on an economy.  I hope that he continues to speak out as an agent of change in his role as the Chairman of President Obama’s Economic Recovery Advisory board.

Matt Wuerker
Politico.com
Sep 22, 2009
Be Sociable, Share!

Posted in Media, Politics.

Tagged with , .


0 Responses

Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.



Some HTML is OK

or, reply to this post via trackback.



Get Adobe Flash player
Copyright © 2009-2013 SurlyTrader DISCLAIMER The commentary on this blog is not meant to be taken as an investment advice. The author is not a registered investment adviser. There is no substitute for your own due diligence. Please be aware that investing is inherently a risky business and if you chose to follow any of the advice on this site, then you are accepting the risks associated with that investment. The Author may have also taken positions in the stocks or investments that are being discussed and the author may change his position at any time without warning.

Yellow Pages for USA and Canada SurlyTrader - Blogged

ypblogs.com