Volker: I Endorse Obama

Former Federal Reserve Chairman Paul Volcker is the latest big-name endorsement for Democratic Sen. Barack Obama of Illinois, lending his gravitas in the financial world to a presidential candidate whose biggest hurdle is to convince voters he is experienced enough to be president.

"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 ... Full Story »

Posted by Beth Wellington
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Subjects: U.S., Politics, Business
Topics: Presidential Election 2008, U.S. Economy, Obama Administration
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Posted by: Posted by Beth Wellington - Feb 2, 2008 - 10:10 AM PST
Edit Lock: This story can be edited
Edited by: Beth Wellington - Feb 2, 2008 - 12:50 PM PST

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Beth Wellington
3.9
by Beth Wellington - Oct. 1, 2008

No news source has picked up this story, although it is one of the most widely read on the WSJ today. Volker, Carter's appointed, is "Mr. Hard Money." As Calmes noted, "He is widely respected among central bankers, Wall Street and economists for breaking the back of inflation in the 1980s – at the cost of the deepest recession the country has seen since the Great Depression... and led investigations of corruption controls at the World Bank and the controversial United Nations’ oil-for-food deal with Saddam Hussein." Although Carter had economic growth, the inflation and then recession dulled the popularity of his presidency, so while the recommendation adds gravitas, it also poses something of a double edged sword. Larry ... More »

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Dwight Rousu
2.8
by Dwight Rousu - Oct. 1, 2008

At least the corporate news outlet reports when one of the elite fraternity endorses Obama. Their bio sketch of Volcker then seems to note as many potential negatives as they can fit in.

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Robert Vermeers
3.7
by Robert Vermeers - Oct. 1, 2008

The balance in this article comes in the fourth paragraph; where the author justaposes Volcker's respect "among central bankers, Wall Street and economists for breaking the back of inflation in the 1980s" with "at the cost of the deepest recession the country has seen since the Great Depression."

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Kevin Doyle Jones
4.0
by Kevin Doyle Jones - Oct. 1, 2008

the realization of the need for a new approach by such a respected figure is pretty amazing.

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Fred Gatlin
4.2
by Fred Gatlin - Oct. 1, 2008

A very interesting and important addition to support for the Senator Obama. People are realizing change involves more than a change of family roles.

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  • Is Volcker Obama's Robert Rubin? Pending

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    Posted by Beth Wellington