Volcker: Excessive Risk Is ‘Like Pornography, You Know It When You See It’


Senator Richard Shelby got a good laugh out of Paul Volcker saying that a minute ago during the Senate Banking Committee’s otherwise painfully dry hearing this afternoon. He would know, filthy old bugger. Also, Volcker has now said “I’ve been around a while” so many times that it is actually weird. It’s like he’s trying to say, “Please, pass this before I die. It’s on my bucket list.” [FBN (live feed), DealBook/NYT (prepared testimony)] Update: Apparently, Volcker reads this guy’s blog.