Paul A. Volcker Knihy

This Report by the Independent Committee of Eminent Persons (ICEP) represents the culmination of a three-year investigation. The guiding principle of this endeavor has been to find as much of the truth about the fate of these victims' accounts, dating from before or during World War II, and their treatment by Swiss banks, as is feasible, given the passage of half a century. The Committee's investigation has produced a record of the past on this problem that is, in fact, as complete as is now possible. Part I of this report reviews the background, the modus operandi, and the factual results of the investigation in accordance with the mandate to the Committee. Part II sets out certain recommendations flowing directly from the investigation described in Part I. Annexes and appendices provide the supporting details.

The extraordinary life story of the former chairman of the Federal Reserve, whose absolute integrity provides the inspiration we need as our constitutional system and political tradition are being tested to the breaking point. As chairman of the Federal Reserve (1979-1987), Paul Volcker slayed the inflation dragon that was consuming the American economy and restored the world's faith in central bankers. That extraordinary feat was just one pivotal episode in a decades-long career serving six presidents. Told with wit, humor, and down-to-earth erudition, the narrative of Volcker's career illuminates the changes that have taken place in American life, government, and the economy since World War II. He vibrantly illustrates the crises he managed alongside the world's leading politicians, central bankers, and financiers. Yet he first found his model for competent and ethical governance in his father, the town manager of Teaneck, NJ, who instilled Volcker's dedication to absolute integrity and his "three verities" of stable prices, sound finance, and good government.