Paul Volcker on the "Existential test" facing America

Fifteen years ago, in February 2005, I excerpted from a speech by former Fed Chair Paul Volcker at Stanford. That prescient speech about housing and excessive borrowing is available on YouTube . Some of Volcker's comments were: "Altogether, the circumstances seem as dangerous and intractable as I can remember. … Homeownership has become a vehicle for borrowing and leveraging as much as a source of financial security." I shared Volcker's concerns back then. Sadly Paul Volcker passed away in December.   Just a few months before his death, he wrote an " afterword to the forthcoming......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2NlOxug
via IFTTT