Volcker: Subprime is ‘The Mother of All Crises’

Friday, April 18, 2008 11:17 a.m. EDT

Former Federal Reserve Chairman Paul Volcker — a critic of the current Fed — has openly chastised the monetary authority’s latest decisions to bail out the housing market.
Volcker says the Fed’s latest move to bail out Bear Stearns by giving it a $29 billion loan teeters on "the very edgeâ€