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Posted by on Feb 12, 2010 in Business, In The News

Will Volker Rule Rule?

Paul Volker

Finally the only economist on this planet who has really succeeded in battling dire economic conditions with a series of tough measure is having his say in regulating US financial institutions. The following is an excerpt from Mr. Volker’s interview with the Financial Times on Feb 11th. Excerpts:

“The implication for Goldman Sachs or any other institution is, do you want to be a bank? If you don’t want to follow those [banking] rules, you want to go out and do a lot of proprietary stuff, fine, but don’t do it with a banking license.”

Links to: watch the interview or read the transcript (you may have to register);