A Thought from Paul Volker for the Season, or Anytime

On December 8th Paul Volker, the former Chairman of the Federal Reserve under Presidents Carter and Reagan, died.

The economist and regulator was a person of strong character.

The story is told of a friend who dropped by his New York office. The colleague began to brag to Volker about his son who worked for a hedge fund, was making a lot of money and living the good life.

Volker commented, “I have one thing he doesn’t have.”

The friend, curious, asked what that was.

Volker’s one word reply, “Enough.”

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