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Volcker agrees with Taleb — We really do still have the same Disease

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  • Fri, Sep 25, 2009 - 10:30am

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    xraymike79

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    Volcker agrees with Taleb — We really do still have the same Disease

 

Volcker: Obama Plans Maintain ‘Too Big To Fail’   DANIEL WAGNER | 09/24/09 10:18 AM

WASHINGTON — A top White House economic adviser says the Obama administration’s proposed overhaul of financial rules preserves the policy of “too big to fail,” and could lead to future bailouts.

Former Federal Reserve Chairman Paul Volcker said Thursday that by designating some companies as critical to the broader financial system, the plans create an expectation that those firms enjoy government backing in tough times. That implies those financial companies “will be sheltered by access to a federal safety net,” he said….

Read more at: http://www.huffingtonpost.com/2009/09/24/volcker-too-big-to-fail-s_n_298429.html

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