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From the Marketwatch weekly news email…

former Federal Reserve Chairman Paul Volcker, one of the most respected figures in modern U.S. economic history, criticized the current financial system, which he suggested was out of control, vulnerable to crisis and deeply unfair.

It’s true the international system has moved beyond the days when a heavily regulated approach can succeed, he said.

“But it is equally compelling that a demonstrably fragile financial system that has produced unimaginable wealth for some, while repeatedly risking a cascading breakdown of the system as a whole, needs repair and reform,” Volcker told the Economic Club of New York.

This isn’t news but this too, is reality…

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