The Financial Crisis in Perspective: A Public Address by Paul Volcker

The Financial Crisis in Perspective: A Public Address by Paul Volcker
Date: Thursday, October 15, 2009 - 08:00PM
More video info at iop.harvard.edu/node/1810

[@adtiamzon3663]

Paul Volcker: "Financial engineering...We're expert in moving money around; but moving money around does not necessarily buy dinner on the table. ...The financial debt by financial institutions rose 6 times...We are expert in producing debt. We are not expert in producing goods... A better balance is needed."

[@jakw97]

An honest man with good and transparent thoughts, does not pretend to know everything, obviously knows more than everyone in the room (probably combined).
That's a civil servant if anyone deserves the name, and imagine if we could have had half the man he is in someone like the current fed chair.

[@budstep7361]

Thank you, this is excellent knowledge and source of wisdom! We might survive if we keep smart people in charge. It seems obvious that failed banks should not be bailed out, but rather liquidated by a sovereign entity...

[@almedalaster4767]

Great find, thank you sharing.

[@Aloneagainofcourse]

I hope Powell is paying attention 2022

[@prismonthethehorizon5793]

6:00

[@chad2831]

more 5:59.70…..just kidding. thanks for the time stamp.

[@Eli-cq8jq]

🆒️

[@MarkSmithhhh]

The only government official with the balls to do what needed to be done

[@tomspeed3354]

people sit to close. corona