Volcker Ends His Role as Andersen Savior
One of Mr. Volcker's requirements for staying on with the Andersen reorganization was that a settlement be reached with the Department of Justice, thus preventing the firm from having to endure the trial on obstruction of justice charges. As it now appears that the trial will go on as scheduled, Mr. Volcker indicated he had no choice but to abandon his efforts to work with the firm.
Mr. Volcker plans to remain with the oversight board because he feels there is still much he can do to help the accounting profession. "The independent oversight board is in suspension as far as Andersen is concerned, but it wants to stay together to work on reform of the accounting industry," said  Mr. Volcker.