Volcker’s Voice Fails to Sell a Bank Strategy.

[elleng]

Listen to a top economist in the Obama administration describe Paul A. Volcker, the former Federal Reserve chairman who endorsed Mr. Obama early in his election campaign and who stood by his side during the financial crisis.

“The guy’s a giant, he’s a genius, he is a great human being,” said Austan D. Goolsbee, counselor to Mr. Obama since their Chicago days. “Whenever he has advice, the administration is very interested.” . . .

He wants the nation’s banks to be prohibited from owning and trading risky securities, the very practice that got the biggest ones into deep trouble in 2008. And the administration is saying no, it will not separate commercial banking from investment operations.

http://www.nytimes.com/2009/10/21/business/21volcker.html?_r=1&hp

[debbierlus]

1. A BIG K & R

[democracy1st]

2. Goldman Sach's admin what bs

[girl gone mad]

3. Tall Paul should have had Tiny Tim's job..

though I'm not sure he wanted it.