But later on in the year Volcker not only faced opposition from his board members on the rate question, he also suffered what Greider viewed as subtle attacks on his authority from the money center banks effectively on his watch.
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"The test of the authority exercised on the ground by the Palestinian Authority is now, and we will have to judge what is happening on the ground, " said Larsen.
Now the commission is doing what it can on its own authority to recommend shorter sentences for most federal crack-cocaine offenses.
The administration proposed nothing more than twice a year reports on what it was doing with its authority to buy bad debt from troubled financial institutions.
It warned, depending on what inspectors found, the local authority could be investigated over its statutory duty to provide fair access to good quality education, under new rules due to come into force in May.
But the administration clearly needs to establish clearer lines of authority for what goes on in the Gulf, and the government must proceed to take every action it can to ensure that the other oil companies, along with BP, put their money where their mouth is and ensure as far as humanly possible that a disaster like this one does not occur again.
We then as the mainstream society assume it is true what they say because, like our doctors and lawyers, we are taught to see them as the authority about what is going on in the world.
And we never picked him up on that, and did what was necessary to transfer authority and to transfer reconstruction.
The second thing that contributed to the problems we saw is the fact that there was not in any stretch of the imagination a clear understanding on the part of the regulators as to what their authority was and what their responsibilities were.
Certainly, there was no one with the authority and the will to stop what was going on.
But after all the weeks of febrile speculation about Vodafone, it is reasonable to assume that the UK's Takeover Panel and the Financial Conduct Authority would want investors to know what is going on, and would therefore put pressure on putative bidders to show their hand.
It was a sincere vote based on my assessment at the time and what I believed he would do with the authority he was given.
CNN: Transcript of Thursday's Democratic presidential debate
Now, granted, we did have it on authority (albeit quite some time back) that that's what was really going down -- but is it really that likely anymore?
The Bush team shares, moreover, in some of the blame for what Fingar subsequently did on Iran by acquiescing to the granting of so much authority over U.S. intelligence products to so political - and overtly hostile - an individual.
Among those convicted was the former chief of the country's central bank, Abdul Qadeer Fitrat, who was sentenced to two years in prison for misusing his authority and failing to inform the government of what was going on inside Kabul Bank.
In response to what he described as "the most vicious ... attack on the judicial authority's independence" ever, only seven of Egypt's 34 courts are still operating and 90% of its prosecutors have gone on strike, said Judge Mohamed al-Zind of the Egyptian Judge's Club.
In the UK, the Advertising Standards Authority, an independent body which oversees the industry, has strict rules on what can be shown in commercials.
The revised code has been brought in to halt what critics see is unfair competition by local authority newspapers, and contains specific guidance on the content and appearance of local authority publicity.
"In a world where 50 percent of the budget of a film actually goes on promotion, as opposed to what you see on screen, the idea that we have a worlds where the consumer can exercise authority and sovereignty is absurd, " said Professor Toby Miller, director of Film and Visual Culture programme at the University of California.
The solicitor, on the other end of the telephone conference acting for the local authority, who will know the law and what is relevant and the ordinary citizen may not.
The reason is that as a new kid on the block, NBNK would be given what's known as "standard status" by the Financial Services Authority, whereas the Co-operative - with its longer history and considerable size in financial services - already has so-called "advanced status".
What I have said, what everyone has said, is that once we lose our borrowing authority we become at risk of default on our obligations.
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