Federal regulators responsible for writing the Volcker Rule limiting proprietary trading told Congress that the proposal was difficult to interpret and could crimp the bottom line at Wall Street banks.
Those in favor of more financial regulation on Wall Street love to point out that MF Global's bankruptcy vindicates the Volcker Rule. Volcker, which is scheduled to go into effect next July, is a ban on proprietary trading at banks—... Read Post
The authors of the Volcker Rule sought to tighten language on proprietary trading, but the case of "the London Whale" illustrates how banks, with the complicity of regulators, will evade the provision's objective. Read Post