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Politics : The Obama - Clinton Disaster
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To: GROUND ZERO™ who wrote (8563)3/6/2009 1:52:45 PM
From: puborectalis  Read Replies (3) of 103300
 
Volcker, who ran the Fed from 1979 to 1987, said the financial industry’s problems stem from larger issues. “I don’t think this is just a technical problem, it’s a societal problem,” he said. He cited bankers on Wall Street receiving multimillion-dollar bonuses for engineering failed mergers.

“There’s something wrong with the system,” Volcker said. “What are the incentives, what’s going on here?”
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