The aloof, scornful, fearsome character that was often portrayed by cartoonists during and after his tenure as Fed chairman probably helped him in winning the respect and trust of global policymakers and financial markets. His influence became so great that it was sometimes said that the dollar had moved off the gold standard and on to the Volcker standard.
But at root, Paul was a public servant -- someone who truly believed in the honor of serving others. His scorn was reserved solely for those who corrupted institutions or put their own selfish interests above the good of society.
This article was provided by Bloomberg News.