Volcker Hates Inflation, disses Hillary

Well, he might not hate Hillary, but she is probably no fan of Volcker after he stepped up to endorse the candidacy of Senator Barack Obama:

“After 30 years in government, serving under five Presidents of both parties and chairing two non-partisan commissions on the Public Service, I have been reluctant to engage in political campaigns. The time has come to overcome that reluctance,” Mr. Volcker said in a statement today. “However, it is not the current turmoil in markets or the economic uncertainties that have impelled my decision. Rather, it is the breadth and depth of challenges that face our nation at home and abroad. Those challenges demand a new leadership and a fresh approach.”

He concluded: “It is only Barack Obama, in his person, in his ideas, in his ability to understand and to articulate both our needs and our hopes that provide the potential for strong and fresh leadership. That leadership must begin here in America but it can also restore needed confidence in our vision, our strength, and our purposes right around the world.” Real Time Economics

Nearly every lifer over the age of 45 working on Wall Street has a soft spot in their heart for Mr. Volcker, and his legend continues to grow, particularly given the current straits we are in.

Volcker is every bit the rock star Jimmy Page or Mick Jagger is, and if they can continue to perform, why not him? An encore performance by Volcker might be a pipe dream, but so was a Zeppelin reunion this time last year.

Volcker: I Endorse Obama
Real Time Economics

Paul Volcker Superstar
Time Magazine, July 1983

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