Paul A. Volcker

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Paul Volcker served in the federal government for almost thirty years during five presidential administrations.  Appointed as chairman of the Board of Governors of the Federal Reserve System by President Jimmy Carter in 1979, he was re-appointed by President Ronald Reagan in 1983. After leaving the Federal Reserve in 1987, he became professor of international economic policy (now emeritus) at Princeton University and served as chairman of the firm of James D. Wolfensohn & Co. until his retirement in 1996. In 2004, he was called upon to lead an independent investigation into the Iraqi Oil for Food Program of the United Nations and in 2007 to lead a review of the World Bank’s anti-corruption efforts. In 2008, President-Elect Obama chose Mr. Volcker to head the President’s Economic Recovery Advisory Board. Mr. Volcker is chairman of the Board of Trustees of the Group of 30 (G30), an international organization which examines the impact of economic and financial decisions by the public and private sectors. As chairman of the first National Commission on the Public Service (the “Volcker Commission”) in 1988 and the second Volcker Commission in 2002, he established himself as one of the nation’s strongest advocates for the revitalization of the public service.