Saturday, January 23, 2010

Volcker In: Geithner Out?

Yesterday on NPR's Marketplace I heard that Volcker is "in" and Geithner is (symbolically at least) "out." What a relief if this is true. Some time ago I posted a link to a story about Volcker. The news story quoted him as saying "Wake Up Gentlement!" Volcker has been agitating for the too big to fails to be broken up, or at least extensively regulated.

Jesse's Cafe Americain has a link to a report issued by the Group of 30 under Volcker's direction on financial reform. Here it is
http://www.group30.org/pubs/recommendations.pdf

I haven't read the report yet but plant to. I sincerely hope that action on regulation finally happens!

Here is another link to a short article written by James K. Galbraith on what kinds of reform are needed and why Volcker's ascendancy is a good sign for the nation
http://neweconomicperspectives.blogspot.com/2010/01/us-is-on-right-path-to-banking-reform.html

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