{"id":10699,"date":"2009-01-14T11:02:09","date_gmt":"2009-01-14T11:02:09","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/paul_volcker_this_crisis_is_different\/"},"modified":"2009-01-14T11:02:09","modified_gmt":"2009-01-14T11:02:09","slug":"paul_volcker_this_crisis_is_different","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=10699","title":{"rendered":"Paul Volcker: This crisis is different"},"content":{"rendered":"<p>Volcker, a former chairman of the Federal Reserve, said he did not know how long the economic malaise would last but policy makers should use this opportunity to rebuild the financial system on a more stable foundation.<\/p>\n<p>&#8220;Crises are old but this crisis is different,&#8221; said Volcker, whom President-elect Barack Obama has appointed to chair the President&#8217;s Economic Recovery Advisory Board.<\/p>\n<p>&#8220;It&#8217;s different in its enormous complexity; it&#8217;s certainly different in the massive intervention of government. It&#8217;s more global in scope than any previous crises.&#8221;<\/p>\n<p>Indeed, Volcker said the economy and markets were now feeling the hangover effects of one of the greatest bubbles in history.<\/p>\n<p><a href=\"http:\/\/ca.news.yahoo.com\/s\/reuters\/090113\/us\/politics_us_usa_economy_volcker\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Volcker, a former chairman of the Federal Reserve, said he did not know how long the economic malaise would last but policy makers should use this opportunity to rebuild the financial system on a more stable foundation. &#8220;Crises are old<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=10699\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,149,596],"tags":[],"class_list":["post-10699","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-economy","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/10699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10699"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/10699\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}