Yesterday I (once again) exhorted Obama to listen to Volker. And today he seems to be doing it. Yeah!
I'm not sure why they are drafting a whole new set of legislation. This was made illegal right after the Great Depression. All they really needed to do was repeal Gramm-Leahy, which had suspended the depression-era law. We'll need to watch this new legislation closely. I have not been impressed with this administration's ability to get the details right.
Scenarios for the Transition to AGI
48 minutes ago
They should replace Bernanke with Volcker, for sure.
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