QOTD: The Spectre of Volcker’s Ghost

When challenging the former Fed Chair about the Volcker Rule, Sen. Mike Johanns (R., Neb.) learned why Tall Paul is not a man to be trifled with.

The Senator accused Volcker and the White House of trying to add the onto an already confusing proposal. Volcker’s response was utterly classic:

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“I tell you sure as I am sitting here, that if banking institutions are protected by the taxpayer and they are given free reign to speculate, I may not live long enough to see the crisis, but my soul is going to come back and haunt you.”

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Hat tip Real Time Economics

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