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Simon Johnson: Banks Just Plain Lying To Fight Reform At This Point

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SIMON JOHNSON
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In a desperate attempt to prevent implementation of the Volcker Rule, representatives of megabanks are resorting to some last-minute scare tactics. Specifically, they assert that the Volcker Rule, which is designed to reduce the risks that such banks can take, violates the international trade obligations of the United States and would offend other member nations of the Group of 20. This is false and should be brushed aside by the relevant authorities.

Read the whole story at The New York Times