Paul Volcker
latest news & developments
Banking shock exposes cheap cash addiction
The turmoil, which some say was inevitable given aggressive hiking cycles, exposes the dependency of advanced economies on cheap credit
Obama blasts McCain on economy
Democratic hopeful Barack Obama on Wednesday dismissed Republican White House candidate John McCain’s economic plan as an insult, which left homeowners to face a mortgage crunch…
Clinton targets economy as anger roils Democratic race
Hillary Clinton on Monday pitched a plan to stop a mortgage crisis degenerating into a full-blown recession as new vitriol spilled over in her Democratic White House struggle…
Chevron to pay $30m in oil-for-food settlement
Chevron, the number-two United States oil company, has agreed to pay -million to resolve criminal and civil liabilities related to procurement of oil under the United Nations…
Rethink on rates
The core recommendation of the report is that the larger industrial countries move towards a system of "flexible exchange rate bands".