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May 5, 2010, Cover Stories

Volcker’s Minsky Moment

By Kerry Pechter   Wed, Apr 21, 2010

“The banks shouldn’t be running casinos on the side,” said former Fed chairman Paul Volcker at the Hyman P. Minsky Conference in New York last week.

At 6'7" tall, Paul Volcker dwarfed the lectern on the podium at the Ford Foundation in New York last week. He was one of the headliners at this year's Hyman P. Minsky Conference, and the audience of economists and officials fell silent as he spoke.

“There is something the matter in Washington...,” the 82-year-old former Federal Reserve chairman began.


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