In the time of Volcker there wasn't a quadrillion dollars of global derivatives or Trillion dollar weeks of throwing dollars into seized up global credit markets or a gargantuan debt based consumption black hole or the end of a credit expansion based on the dollar as the international reserve currency or the culmination of a super boom that has lasted 60 years or financial sector write-offs and lowss provisions well over a $trillion and counting or financial instrumEnts that are so complex, risky and opaque that even the most sophisticated can't fathom them...or an unprecedented manipulation of thr markets or........well, it goes on and on.

We are at the edge. Teh depression has started and some are still mumbling about whether a recession has even commenced.

What a mess. Volcker wouldn't know what to do. It has gone passed the point of repair.