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Listen to a top economist in the Obama administration describe Paul A. Volcker, the former Federal Reserve chairman who endorsed Mr. Obama early in his election campaign and who stood by his side during the financial crisis. Full Article at The New York Times
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… perceived as standing apart from Wall Street, and critical of its ways, some administration officials say, while Timothy F. Geithner, the Treasury secretary, and Lawrence H. Summers, chief of the National Economic Council, are seen, rightly or... Full Article at Columbia Journalism Review
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Paul Volcker's desire to break up large banks and roll back the U.S. financial system to the days of Glass-Steagall looks increasingly dead in the water. It should come as no surprise. Full Article at The Business Insider
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Last week, the Federal Reserve statistical release (G.17) reported on industrial production and capacity utilization for the economy. “Industrial production rose 0.7 percent in September after an upwardly revised gain of 1.2 percent in August. Full Article at Seeking Alpha
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In the meantime, Volcker said the recent sharp rally in the U.S. stock market from recession lows and other signs of revival in financial markets should not lead to complacency in the push for financial reforms. Full Article at CNBC
