Topic: Paul Volcker

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The Fed speaks: Five times Federal Reserve chairmen made waves with words

The Federal Reserve, the institution tasked with guarding the economy against inflation and financial instability, has long made headlines for its words as well as its actions. Here's a look at some moments when a Fed chairman has made waves with his words.

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Key Republican lawmaker questions JP Morgan loss

The chairperson of the House Financial Services subcommittee, Shelley Moore Capito, discussed the loss during hearings.
JP Morgan chief apologizes for $2 billion loss

Jamie Dimon, the CEO of the bank, told shareholders that the loss should have never happened.
JPMorgan Chase's Dimon survives pay, chairmanship votes (+video)

JPMorgan Chase shareholders voted Tuesday at the bank's annual meeting to keep CEO Jamie Dimon in his role as chairman of the board, in addition to his pay package.
Tax VOX
Is the Buffett rule a step in the right direction for tax reform?

A better answer would be to close the loopholes that help the wealthy avoid paying higher taxes, but some argue that a minimum tax like the Buffett rule might be a good start.
The Circle Bastiat
Is Ron Paul's gold standard idea dangerous?

Ron Paul wants to end the Fed and go back to the gold standard. Many call that a dangerous idea, but the US was quite prosperous on the gold standard.
The Daily Reckoning
The new American standard of living

Americans are getting poorer faster than they got rich
Peru set to surpass Colombia as world's top coca producer

A UN report released Thursday shows Peru is just shy of overtaking Colombia in coca cultivation, demonstrating the 'balloon effect' that drug war watchers always warn about: when pressure is applied in one area, production 'balloons' in another.
What's the secret to Canada's miracle economy?

No foreclosure crisis. No bank failures. No debt crisis. Low unemployment. A strong currency. Yes, Canada has a lot going for it these days. Here's why.
Kofi Annan, George Shultz say drug war a failure

A new report calls the 'war on drugs' a failure. The claim isn't new, but hearing it from an ex-UN head and a former US secretary of State adds new weight to the criticism.
Donald Marron
The day the US defaulted on treasury bills

Saying that the US hasn't defaulted on federal debt since the days of Alexander Hamilton is great rhetoric. If only it were true.
The Circle Bastiat
Alternative to QE? The Lehman Bros. Plan.

The plan for US government would rely on competition and the free market, not quantitative easing and regulations. The financial firm Lehman Brothers was allowed to fail, the American people should be, too.
The Fed speaks: Five times Federal Reserve chairmen made waves with words

The Federal Reserve, the institution tasked with guarding the economy against inflation and financial instability, has long made headlines for its words as well as its actions. Here's a look at some moments when a Fed chairman has made waves with his words.
The Daily Reckoning
Imported inflation hits US consumers

Inflation rose 0.4 percent in January. Is it a sign of things to come?
Obama launches new push for US jobs, tapping GE's Immelt to help

The economy is 'not growing fast enough yet,' Obama acknowledged Friday, speaking to GE workers in Schenectady, N.Y. Will GE's CEO, Jeffrey Immelt, prove to be his guide to building a more competitive America?
UN lifts Saddam-era sanctions on Iraq, ending a dark chapter

The Iraq vote at the normally dour UN yesterday was marked by unusual applause, at times feeling like a coming out party for a new nation.
ThinkMarkets
Can we reinvent the banking industry?

That's the question raised by Laurence Kotlikoff's book, Jimmy Stewart is Dead, which takes readers from a clear-eyed examination of the current financial crisis to radical proposals for banking and financial regulation.
The Postcatastrophe Economy

Macroeconomic sage Eric Janszen makes a case that the same forces that caused the last economic crash will cause the next one too.
Robert Reich
Why a civil society extends unemployment benefits

Do unemployment benefits encourage the jobless to stay jobless? If we got rid of lifeguards and let more swimmers drown, fewer people would venture into the water. A civil society is not based on the principle of tough love.
Tax VOX
Obama’s tax-reform panel: a giant missed opportunity

The tax-reform panel provides useful budget-cutting hints, but Obama never allowed it to tackle the really big issues.
The Daily Reckoning
What will the new economy look like?

The economy will never return to its bubble state. That's a good thing.
Robert Reich
Is Obama's activist phase over?

President Barack Obama will likely have difficulty passing any more expansive legislation.
Oliver Stone on Wall Street, Gordon Gekko, and Hugo Chávez

Oliver Stone talks about his two latest films, “South of the Border” and “Wall Street: Money Never Sleeps.”
Financial reform bill: What does it do about firms deemed 'too big to fail'?

Financial reform legislation hammered out Friday between the House and Senate is the biggest set of new bank regulations since the Depression. But experts disagree on whether it can eliminate 'too big to fail' banks and prevent future bailouts.
Five big decisions as House, Senate confer on financial reform

Members of Congress began work Tuesday to resolve differences in the House and Senate versions of financial reform legislation.
The Reformed Broker
What would Teddy Roosevelt do?

Am imaginary conversation with Theodore Roosevelt about financial reform, the BP oil spill, and today's rap scene.