Ed Driscoll


HOSTILE TAKEOVER OF ARTHUR ANDERSEN? Lawrence Kudlow says that Paul Volcker–the man who licked inflation in the early 1980s as the then head of the Federal Reserve–is planning “a hostile takeover” (Kudlow’s phrase) of Arthur Andersen:

At 74 years old, and with nearly four decades at the U.S. Treasury and the Federal Reserve under his belt, Mr. Volcker appreciates full well the importance of the regulatory fine print. He is aware that Andersen is responsible for a string of government scrapes that includes Lincoln Savings and Loan, Colonial Reality, Waste Management, Home State Savings Bank and the Baptist Foundation of Arizona