A plan to reconfigure the global economy

Economist Paul Volcker, chairman-designate of the newly formed Economic Recovery Advisory Board in President-elect Obama’s administration, has unveiled a plan that demands a new way of thinking and restructuring the global financial system. Although it’s theoretical, it could provide clues to the kinds of changes President-elect Obama will push for once he’s in office. For an assessment of this plan, The Takeaway is joined by Janet Tavakoli. Tavakoli is founder and president of Tavakoli Structured Finance. She’s also author of the new book, Dear Mr. Buffett: What an Investor Learns 1,269 miles from Wall Street.