Sense that the problems are getting worse and will never end.
Volcker: Crisis May Be Worse Than Depression
"I don't remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world," Volcker told a luncheon of economists and investors at Columbia University.
"There is little correlation between sophistication of a banking system and productivity growth," he said.
This is also the same time he said "capitalism will survive"
the second quote I put in just to point out that it's obvious that we are going back to Glass Steagall. and increased regulation of what banks can hold.
1 comment:
He said:
"Capitalism in some from will survive, but probably not financial capitalism."
Which I thought was an interesting qualifier.
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