Throughout my career at my former employer, there was a running joke on the trading floor.  Whenever someone erroneously yelled out a headline they thought was breaking news, but which in reality had already been announced, they’d be met with a chorus of “VOLCKER RESIGNS,” as if to say “no kidding, dipshit, old news,” referencing Paul Volcker’s 1987 resignation from The Fed.  An example might be if someone was off the desk while a stock was halted for news pending.  While they were gone, the headlines would come across, and the trading floor would get the news and discuss it.  When the late-news-repeater returned, he’d eagerly shout “RUMOR THAT QCOM IS BIDDING FOR ATHR,”  and people would reply “Volcker Resigns,” or simply “VOLCKER.”   
Well, today, Volcker resigned again!  I wonder what my former colleagues are doing with this headline… For at least one day, “”Volcker Resigns” was timely news again.   If you want a  terrific blast from the past, and to play “If only we knew, in hindsight…” go back to the original 1987 Volcker Resigns article and read what they had to say about the incoming replacement… Alan Greenspan.  Quick gem:
“In his attempt to prevent high inflation rates, he is more likely to apply monetary brakes earlier rather than later.”

Kid Dynamite is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. If you click on my Amazon.com links and buy anything, even something other than the product advertised, I earn a small commission, yet you don't pay any extra. Thank you for your support.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

blog comments powered by Disqus
Kiddynamitesworld Blog