BUSINESS
12/20/2012 08:17 am ET Updated Feb 19, 2013

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

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.

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