Paul Volcker, former Federal Reserve Board Chairman and head of President Obama’s Economic Recovery Advisory Board, began a recent speech with these words:I really feel a sense of profound disappointment coming up here. We are having a great financial problem around the world. And finance doesn't work without some sense of trust and confidence and people meaning what they say. You take their oral word and their written word as a sign that their intentions will be carried out.
Anyone who begins his speech with an appeal to sincerity will get my attention. Obviously Mr.Volcker understands the power of sincerity and if you read the rest of his speech it becomes clear that he too believes that a fundamental lack of sincerity and integrity got the US and the world into this mess.
I encourage you to read the rest of the speech at Biiwii.com in Gary’s post Paul Volcker speaks, we should all listen.
Thank you to the noble Otto at Inca Kola News where I saw the speech in the first place in his post Paul Volcker: Yes, yes and thrice yes.
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Image from Wikimedia
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