its not the same situation. But Volcker acted sensibly and makes more sense now than congress or the president do. It is clear what must be done. Or at least

its not the same situation. But Volcker acted sensibly and makes more sense now than congress or the president do. It is clear what must be done. Or at least not as fuzzy as you suggest. We must face the music, stop playing games and start practicing sensible policies. we should stop supporting things that have failed certainly. And subsidizing risk is definitely one thing that doesn't work. But we are continuing to do so, especially in the housing market. And we are doing so that nobody needs to deal with the reality of the actual value of their homes. Or the actual sad worth of the balance sheets of banks. Instead we are asking those who acted responsibly to pay for the mess. Or rather we are borrowing like mad so we can dump it upon them later.