He stands 6 feet 7 inches, the size of a slugger, but Paul Volcker is a towering presence on Wall Street, not in Major League Baseball. Nevertheless, Commissioner Bud Selig recruited Volcker, the former chairman of the Federal Reserve, to address owners and executives of all 30 major league teams on Thursday to provide his view of the nation’s crumbling economy . . .Nothing in the article indicates or implies that anyone was unhappy about having Volcker speak to them, but the cynical side of me pictures that scene in "The Natural" where Robert Redford rolls his eyes and then walks out when the motivational/self-help dude is speaking to the New York Knights. Yeah, there are some dolts in baseball's ownership group, but for the most part they're a bunch of millionaire and billionaire businessmen who, one would hope anyway, have an understanding of the state of the economy, and thus really don't need Paul Volcker to explain to them what's going on.
. . . According to several people who attended the meeting, Volcker discussed what led to the current economic plight and where things might be headed. His assessment was not upbeat, the attendees said.
Friday, November 21, 2008
"Losing is a disease, as contagious as the bubonic plague"
Bud Selig called in former Federal Reserve Chairman Paul Volcker to put a scare into the owners about the state of the economy: