Volcker: Wall St. changing, but not very rapidly
Paul Volcker was the Chairman of the Federal Reserve Board from 1979 to 1987, and he's been an advisor to President Obama. With America's economy still unsettled, Chairman Volcker sat down just a few days ago with Anthony Mason for a Q&A:
In his office in New York's Rockefeller Center, Paul Volcker fills the hallway. He is a towering figure, both in height (he is 6'8") and in reputation. He spent eight years as Chairman of the Federal Reserve.
And these days he is casting a giant shadow over Wall Street.
He says he believes the culture on Wall Street has to change.
In the aftermath of the financial crisis, Volcker has led an outspoken campaign to curb greed and speculation. His concern, he says, is for the health of the banking system.
For nearly two years, the 84-year-old economist chaired President Obama's Economic Recovery Advisory Board, helping to shape the president's banking reforms...
In his office in New York's Rockefeller Center, Paul Volcker fills the hallway. He is a towering figure, both in height (he is 6'8") and in reputation. He spent eight years as Chairman of the Federal Reserve.
And these days he is casting a giant shadow over Wall Street.
He says he believes the culture on Wall Street has to change.
In the aftermath of the financial crisis, Volcker has led an outspoken campaign to curb greed and speculation. His concern, he says, is for the health of the banking system.
For nearly two years, the 84-year-old economist chaired President Obama's Economic Recovery Advisory Board, helping to shape the president's banking reforms...
http://www.cbsnews.com/8301-3445_162-57404090/volcker-wall-st-changing-but-not-very-rapidly/?tag=cbsnewsTwoColUpperPromoArea
why don't the people listen....
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