Volcker: Government Makes Up 35% Of GDP, Mortgage Markets Are Now A State 'Subsidiary' |
| May 15, 2013 | May 2013 Bond Updates |
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Former Fed Chairman Paul Volcker warned of the risks of an asset bubble forming given the incredible amount of liquidity the Bernanke Fed has injected into the market, even though he said banks are substantially stronger than before the crisis on Wednesday. Volcker also indicated that in the U.S. government makes up about 35% of GDP and that the financing of the residential mortgage market by the state has led to a dysfunctional financial system. |
| View more at: http://www.forbes.com/sites/afontevecchia/2013/05/15/volcker-government-makes-up-35-of-gdp-mortgage-markets-are-now-a-state-subsidiary/ |
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