Comments on: The unique Paul Volcker http://blogs.reuters.com/felix-salmon/2010/07/19/the-unique-paul-volcker/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: mcnet http://blogs.reuters.com/felix-salmon/2010/07/19/the-unique-paul-volcker/comment-page-1/#comment-16955 Thu, 22 Jul 2010 04:08:23 +0000 http://blogs.reuters.com/felix-salmon/?p=4769#comment-16955 PS. That’s just what the BIS thought a decade ago. What could be simpler, or more elegant?

Many of us bought it, few of us thought it through. If the ratings agencies hadn’t failed us, we’d be in capitalist/humanist nirvana. What a shame.aargh!!

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By: mcnet http://blogs.reuters.com/felix-salmon/2010/07/19/the-unique-paul-volcker/comment-page-1/#comment-16954 Thu, 22 Jul 2010 03:17:52 +0000 http://blogs.reuters.com/felix-salmon/?p=4769#comment-16954 OK drewiepe, this is how it works,

any position that ends up as open at days ends gets included in the Var calculation is a prop positions. Full stop.

Can I make it any clearer? Can it be made any simpler?

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By: drewiepe http://blogs.reuters.com/felix-salmon/2010/07/19/the-unique-paul-volcker/comment-page-1/#comment-16893 Tue, 20 Jul 2010 12:06:35 +0000 http://blogs.reuters.com/felix-salmon/?p=4769#comment-16893 OK then chuckles, define prop trading as practised on an OTC interest rate derivatives desk and clearly delineate it from the servicing and facilitating of client businesss, preferably in less than 500 words. Go.

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By: mcnet http://blogs.reuters.com/felix-salmon/2010/07/19/the-unique-paul-volcker/comment-page-1/#comment-16888 Tue, 20 Jul 2010 01:57:44 +0000 http://blogs.reuters.com/felix-salmon/?p=4769#comment-16888 Felix,

Sorry, but, you’re still as clueless as ever, Sorry for the ad hominem but in this case it’s warranted.

If I were to take you seriously, which many do, I’d need to concede your insights are valid.

Perhaps you’re too young to have known Volcker in his prime. There was little doubt he took his role seriously, and at the time there was no doubt he acted,as Fed chairman, in that capacity,as he saw fit, come what may.

He acted as a principled man, many disagreed and still do. But he was fearsome. To this day, I’m not sure he made the right choice re NAIRU, but he laid his position on the table to be refuted. It wasn’t, once inflation (and the threat of hyperinflation) was slain.

He’s still yelling “bullshit” to the chucklheads in the O adminstration ( or the Clinton arm of the party still in power re finance) that they are at finance’s mercy.

The “prop trading” definition that the IBs make is a nonsensical argument that you should be able to debunk in a nanosecond, if you chose to. That you don’t demonstrates the depth of your cluelessness. Stick to movie futures and wine options. you’re completely out of your depth here, and while I respect a lot of your repoting/analysis, you need to be called out on your political calculus re Volcker. You are not an authority.

You insinuate that he was usurped. My read is that O & co were outfoxed. To me that’s an imperfect, but wonderful develpoment, one I wish were shared and adopted by more influential bloggers.

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By: SBayer http://blogs.reuters.com/felix-salmon/2010/07/19/the-unique-paul-volcker/comment-page-1/#comment-16884 Mon, 19 Jul 2010 21:35:09 +0000 http://blogs.reuters.com/felix-salmon/?p=4769#comment-16884 Anthony J. Dowd

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By: twsf http://blogs.reuters.com/felix-salmon/2010/07/19/the-unique-paul-volcker/comment-page-1/#comment-16883 Mon, 19 Jul 2010 19:13:25 +0000 http://blogs.reuters.com/felix-salmon/?p=4769#comment-16883 How about departing Delaware senator Ted Kaufman?

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By: walt9316 http://blogs.reuters.com/felix-salmon/2010/07/19/the-unique-paul-volcker/comment-page-1/#comment-16882 Mon, 19 Jul 2010 18:43:20 +0000 http://blogs.reuters.com/felix-salmon/?p=4769#comment-16882 Do not forget, as I did, Sheila Bair.

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By: daviban http://blogs.reuters.com/felix-salmon/2010/07/19/the-unique-paul-volcker/comment-page-1/#comment-16881 Mon, 19 Jul 2010 17:29:32 +0000 http://blogs.reuters.com/felix-salmon/?p=4769#comment-16881 brad delong

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By: walt9316 http://blogs.reuters.com/felix-salmon/2010/07/19/the-unique-paul-volcker/comment-page-1/#comment-16878 Mon, 19 Jul 2010 17:01:18 +0000 http://blogs.reuters.com/felix-salmon/?p=4769#comment-16878 Yeah, Simon Johnson.

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By: JD05 http://blogs.reuters.com/felix-salmon/2010/07/19/the-unique-paul-volcker/comment-page-1/#comment-16877 Mon, 19 Jul 2010 16:53:53 +0000 http://blogs.reuters.com/felix-salmon/?p=4769#comment-16877 Felix– What about Daniel Tarullo? I don’t know much about his reputation inside the Fed, but he seems like the obvious candidate.

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