February 2010: Changing the world, again

A 6 foot 7 inch octogenarian ex-central banker with a defective hearing aid and a deceptive mumble is walking unusually tall and riding unusually high. What is
more, this is the second time that Paul Volcker is changing the world. In those bygone days of August 1979 when Leonid Brezhnev was ensconced in the Kremlin, Margaret Thatcher had just entered Downing Street and China had foreign exchange reserves of just $2bn, President Jimmy Carter appointed Volcker chairman of the Federal Reserve Board.

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