Paul Volcker on the “crisis in governance”

Politico reports on Fareed Zakaria’s CNN Global GPS interview with Paul Volcker and his concern about the “crisis in governance.”

Volcker: “Capitol Hill – the Senate – is dysfunctional…. We are more than a year after the inauguration and neither the undersecretary for international [affairs] or the undersecretary for domestic finance – you don’t have them. It’s not because people haven’t been put forward. It took them a long time to get them nominated and an impossible amount of time to get them confirmed…. How can the Treasury effectively function … without the top officials in place that are needed?