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Blog Archive

Wednesday, April 9

Paul Volcker not very Diplomatic

Former Federal Reserve Chairman Paul Volcker is now 80 years old and thinking about the future of the nation. He just spoke at the Economics Club of New York. The Bear Stearns bailout reached the edge of legality according to Volcker. Where can the nation go, if the policy now seems to bailout everyone and everything. The Mortgage Backed Securities were accepted by the Federal Reserve, in exchange for $30 billion in cash to, I guess, Morgan Chase, to "buy" Bear. Such a deal.

Posted by Howiecopywriter at 10:10 AM

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