Wednesday, April 7, 2010 as of 11:14 AM ET
Paul Adolph Volcker, Jr. (born September 5, 1927) is an American economist. He was the Chairman of the Federal Reserve under United States Presidents Jimmy Carter and Ronald Reagan from August 1979 to August 1987. He is widely credited with ending the high levels of inflation seen in the United States in the 1970s and early 1980s.
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Remember when the heads of CEOs were supposed to roll when things went sour at their companies?A key part of the Sarbanes-Oxley law enacted to stop future scandals like Enron and WorldCom was that chief executives had to personally certify that all was kosher on their books.
The law was designed to prevent a Sgt. Schultz "I know nothing" defense and make top execs personally responsible for the wrongdoing of everyone at their companies.That should make folks like Jon Corzine and even, to a lesser degree, Jamie Dimon quake in their boots, right?Not really.Turns out there are so many loopholes that market regulators don't even bother trying to hold execs accountable under Sarbox anymore. Which is why the permanent DC rules factory now at full tilt will likely be ignored in the future, as executives continue to do an end run around the rules. The U.S. government moved quickly after Enron, WorldCom and other companies blew up in accounting scandals where executives had inflated their earn...Former Federal Reserve Chairman Paul Volcker on Wednesday - indicating he was frustrated with the slow pace of reform -- urged the Obama administration and Congress ...
Stronger oversight and regulation of the money market mutual fund industry is likely needed, former Federal Reserve Chairman Paul Volcker warned lawmakers in testimo...
A group of 22 U.S. Senate lawmakers said Thursday that regulators should complete a ban on banks' trading activities this summer and rebuff calls from the banking in...
Name: Jeffrey R. "Jeff" Immelt Age: 56 Company: General Electric Co. Position: CEO and chairman Education: MBA '82 from Harvard Business School, bachelor of arts in ...
Most evidence suggests the Federal Reserve's policy of low interest rates in the early 2000s did not cause the recent housing bubble, Chairman Ben Bernanke said Thur...
(UPDATES with more quotes and context in the second through third and fifth through 16th paragraphs.)WASHINGTON -( Dow Jones )- Most evidence suggests the Federal Re...
A Federal Reserve official Thursday signaled that regulators will provide banks with guidance on implementing the Volcker rule and discouraged Congress from revisiti...
U.S. regulators may miss a July deadline to adopt the Volcker Rule , a controversial proposal seeking to rein in speculative trading, a top bank regulator said Wedne...
U.S. regulators may miss a July deadline to adopt the Volcker Rule , a controversial proposal seeking to rein in speculative trading, a top bank regulator said Wedne...
Public interest advocates in Washington want to turn former Goldman Sachs (NYSE:GS) executive Greg Smith into their poster child for tough new rules for Wall Street ...
Former Federal Reserve Chairman Paul Volcker on Wednesday said a sharply critical resignation letter by a Goldman Sachs Group Inc. executive is a reflection of a cha...
The two-year grace period for U.S. banks to implement the so-called Volcker rule limiting the bets they can make with their own cash appears appropriate, Fed Chairma...
JPMorgan Chase & Co (NYSE:JPM) Chief Executive Jamie Dimon has agreed to testify before Congress over the bank's recent trading losses, which have ignited a politica...
Two U.S. Senate Democrats said Thursday they were optimistic regulators would impose tight restrictions on banks' trading activities after the trading loss of more t...
Two U.S. Senate Democrats stepped up their call Thursday for bank regulators to ensure that banks are barred from making risky bets, pointing to the trading loss of ...
President Barack Obama talked about the $2 billion "hedging" loss at JPMorgan Chase on ABC's "The View" this morning.The president held up his silver sheriff's badge...
For supporters of the Volcker Rule, JPMorgan's (NYSE:JPM) $2 billion bad bet is "manna from heaven," proof that big investment banks shouldn't be gambling their clie...
J.P. Morgan Chase & Co.'s surprise announcement Thursday that it will take a "significant" trading loss is a strong reminder for why regulators need to establish the...
Upcoming trading regulations won't put banks out of business, former Federal Reserve Chairman Paul Volcker told lawmakers Wednesday, dismissing concerns that the rul...
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