In early 2005, Mr. Paul Volcker, a former Federal Reserve Bank Chairman warned about the economic and financial crisis to come. However, his views were not heeded and the US economy nearly collapsed in 2008.

Please read the attached article to examine the views propagated by Mr. Volcker and how he correctly identified the early signs for our current economic crisis.

Illustrate what were you thinking about the economy in 2005 and did you ever foresee a crisis of this magnitude?

What policies could you have suggested to avoid the impending economic crisis?

Comment.