BUSINESS

Paul Volcker Said To Be Disappointed With The Final Version Of His Rule

08/30/2010 05:12 am ET | Updated May 25, 2011

June 30 (Bloomberg) -- Paul Volcker is disappointed with the final version of the rule that bears his name.

As first envisioned, the Volcker rule would have banned banks from running private-equity and hedge funds, an attempt to curb risk-taking that fueled the financial crisis. Last-minute congressional negotiations aimed at winning Republican support led to a compromise that allows banks to invest up to 3 percent of their capital in such funds.

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