Paul Volker was Fed Chairman from 1979 to 1987. Almost singlehandedly, he brought inflation down from 13.5% in 1981 to 3.2% by 1983. While he was running the Fed, there were no real estate bubbles, sub prime collapses nor ponzi schemes.

He did what he had to do. He pushed up interest rates and he kept them there until he had restored confidence in the dollar.

Oh Paul, where are you when your country needs you?