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Volcker Actually Gets A Callback

Sure, the President claims not to pay any attention to blogs, but we aren't sure how else you could explain the latest news in light of our recent piece on Paul Volcker. At first glance you would think The Volck a bit too busy with that whole "saving the financial world" project to take on a task as gargantuan as reforming the tax code, but if you look at the meeting record of the Presidential Economic Recovery Advisory Board (won't take long, there isn't one) it quickly becomes apparent that there's plenty of time for side projects.

President Barack Obama is putting former Federal Reserve Chairman Paul Volcker in charge of a tax-code review aimed at closing loopholes, streamlining the law and generating revenue, budget Director Peter Orszag said.
Volcker, 81, who heads the president's Economic Recovery Advisory Board, is being asked to take a top-to-bottom look at the laws in an effort to rebalance the tax system.

Obama Asks Volcker to Lead Panel on Tax-Code Overhaul [Bloomberg]


Volcker Thinks Dodd Bill is Pretty Good

Paul Volcker, President Obama's special advisor on financial regulatory reform, appears to have endorsed the main bill sponsored by Sen. Chris Dodd of Connecticut. Although details are still being worked out, Congress is moving to pass the bill by the end of the month.