-8.2 C
New York
Sunday, December 22, 2024

The Volcker Rule is Born

The Volcker Rule is Born

Paul Volcker Testifies Before House Financial Services Committee

Courtesy of Joshua M Brown, The Reformed Broker

Obama has just introduced what we’re calling the Volcker Rule.  This will prohibit banks from owning hedge funds, engaging in most prop trading and generally stop bank affiliates from taking on risk involving FDIC-backed deposits.  It sounds tres Glass-Steagally to me. 

The stocks of GS, JPM, BAC etc are all getting prison-raped on the news.

This is developing so I’ll need to come back with more details later today…stay tuned.

 

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

156,328FansLike
396,312FollowersFollow
2,330SubscribersSubscribe

Latest Articles

0
Would love your thoughts, please comment.x
()
x