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Strategies & Market Trends : Currents of Currency

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From: Ahda	6/18/2015 10:41:12 AM
	of 594

The American Dream is in trouble. And Paul Volcker knows a big reason why. The former chairman of the Federal Reserve says the financial world has gotten "bigger than its britches." Attempts to regulate the industry have failed, he says, and the pay of financial executives has gone way up. "I wasn't born yesterday," Volcker told CNNMoney's Christine Romans. Since World War II, he said he has seen "20 different substantial efforts to reform the regulatory system. None of them have moved the needle." While the financial industry has become bigger and more complex, Volcker thinks we have to ask: "How much has that actually contributed to the growth and productivity of the economy?" money.cnn.com

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