Volcker Spares No One in Broad Critique

Volcker goes ballistic.Resignation from the Administration invite a conclusion that something beyond what we know if awfully wrong.

Jim

Anyone watching the news flows with a discerning eye has to see the same thing. Expect a lot of economic and policy surprises towards the end of 2010 and throughout 2011.

Headline: Volcker Spares No One in Broad Critique

Former Federal Reserve Chairman Paul Volcker scrapped a prepared speech he had planned to deliver at the Federal Reserve Bank of Chicago on Thursday, and instead delivered a blistering, off-the-cuff critique leveled at nearly every corner of the financial system.

Former Fed Chairman Paul VolckerStanding at a lectern with his hands in his pockets, Volcker moved unsparingly from banks to regulators to business schools to the Fed to money-market funds during his luncheon speech.