Volcker Says He Is Confident Capitalism Will Survive

by: Bespoke Investment Group

Speaking at a Columbia University Conference on Friday, former Federal Reserve Chairman Paul Volcker made headlines when he assured the audience that he was confident that capitalism "in most respects" would survive. In fact, the market even ticked a bit higher when his remarks hit the wires. The fact that Volcker even had to make this statement is sad, and it says a lot about how much things have changed in the US and how severe the current financial crisis has become. The link to Volcker's entire speech (27 minute audio file) can be found by clicking the image below.