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Volcker Rule

Prospects for Financial Reform

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

Despite, or rather because of, the arrogance of our prominent financial players, we're making progress on the bigger agenda: changing the consensus on what is safe and sound in banking.

Volcker Rule Obama administration is backing off "Volcker rule"

nypost.com | JOSH KOSMAN and MARK DeCAMBRE | Posted 05.25.2011 | Business

The New York Post reports that "according to people familiar with the situation," the White House is abandoning the "Volcker Rule," a key reform named...

Treasury Secretaries of Administrations Past Petition For Volcker Rule

Posted 05.25.2011 | Business

The 'Volcker Rule' got fresh support this morning when five former Treasury Secretaries endorsed the key financial regulation in a letter to the Wall ...

Shahien Nasiripour

Paul Volcker Says Mortgage Market Will 'Have To Be Reconstructed' (VIDEO)

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

Former Federal Reserve Chairman Paul Volcker said the nation's home mortgage market is in trouble and will have to be "reconstructed." "It's totall...

Dimon Said His Bear Stearns Sticky Bombs Are Worse Than Geithner's

Janet Tavakoli | Posted 05.25.2011 | Business
Janet Tavakoli

Taxpayer subsidized cheap funding and looser accounting standards have allowed our largest banks to keep their Dorian Gray financial pictures behind a curtain and out of public sight.

Nick O'Donohue, JPMorgan Bank reform may have $220 bln capital hit

Reuters | Posted 05.25.2011 | Business

LONDON (Reuters) - Top banks will need an extra $221 billion (139.6 billion pounds) of capital and see annual profits slump by $110 billion if all pro...

Henry Paulson's NYT Op-Ed: Financial Reform Needed, But Obama's Proposals Won't Work

nytimes.com | HENRY M. PAULSON Jr. | Posted 05.25.2011 | Business

[T]he most recent proposal by the Obama administration -- to bar big banks from trading driven by other than customer-related activity -- would not ha...

"JPMorgan" Shows Us the 'Volcker Rule' Is All Hat and No Cattle While the Administration and Congress Fiddle Away

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

We have a situation where, in essence, government protected/guaranteed funds will be used as chips to play big time casino at the commodity roulette table.

Hank Paulson Blasts Volcker Rule, Says It Won't Solve The Problem

Times Online | Iain Dey | Posted 05.25.2011 | Business

in an interview with The Sunday Times, Paulson said that the plans to stop banks from betting their own capital on the financial markets would "not so...

'Volcker Rule': Goldman Sachs And Others Could Lose Their Bank Status

ft.com | Chrystia Freeland and Francesco Guerrera | Posted 05.25.2011 | Business

Goldman Sachs and other banks should give up their bank status if they want to avoid the ban on proprietary trading proposed by the White House, Paul ...

Volcker Rules Opposed by Wall Street and Republicans

The Baseline Scenario | Posted 05.25.2011 | Business

I testified yesterday to the Senate Banking Committee hearing on the "Volcker Rules" (full pdf version; summary). My view is that while the principle...

Dodd Says The Senate Banking Bill Is At An Impasse

AP | JIM KUHNHENN | Posted 05.25.2011 | Business

WASHINGTON — Looking to douse public and congressional anger, chief executives at some of the biggest financial institutions are on a mission to...

Volcker Still 'Just A Photo Op'?

Posted 05.25.2011 | Business

When Paul Volcker was first appointed chairman of President Obama's Economic Recovery Advisory Board, he really didn't expect to have much influence. ...

What Getting Dumped by My Girlfriend Taught Me About Being Dumped by Obama

Mike Elk | Posted 05.25.2011 | Politics
Mike Elk

On that cold February night, I was burning with excitement for both Irene and Obama. I didn't know if I was in love with Irene, but I was certainly in love with Obama.

Volcker, Dodd and the Death of Regulatory Reform

Jill Schlesinger | Posted 05.25.2011 | Business
Jill Schlesinger

Paul Volcker appeared before the Senate Banking Committee to pump up his eponymous "Volcker Rule," which aims to limit the scope of banking activities. I'm left with a sinking feeling that we're watching a slow death of regulatory reform.

Felix Salmon: The Volcker Rule's Two Huge Loopholes

Reuters | Felix Salmon | Posted 05.25.2011 | Business

Paul Volcker's long NYT op-ed last weekend, and his testimony to the Senate banking committee this week, did very little to clear up a lot of the unce...

Goldman Sachs

Reuters | Dan Wilchins | Posted 05.25.2011 | Business

Some institutions will be able to avoid facing the Volcker rule by shedding their insured deposits, according to U.S. Deputy Treasury Secretary Neal W...

Paul Volcker Testimony: Limiting Banks' Proprietary Activities Would Stabilize The Financial System

Posted 05.25.2011 | Business

A day after Senate Banking Committee Chairman Chris Dodd's office indicated that he may scrap the centerpiece of President Obama's financial regulator...

Volcker Rule That Limits Banks' Proprietary Trading Is Unlikely To Move Forward In Senate

Posted 05.25.2011 | Politics

"A proposal by former Federal Reserve Chairman Paul Volcker to limit bank's proprietary trading will be either be dropped or significantly modified in...

Brian Moynihan: Bank Of America's CEO Says Bank 'Is Not Too Big' (VIDEO)

Posted 05.25.2011 | Business

The CEO of the nation's largest bank insists that his bank is actually not excessively large. According to Brian Moynihan, who took over for Ken Lew...

Bank CEOs Hold Private Meeting In Davos

bloomberg.com | Christin Harper and Aaron Kirchfeld | Posted 05.25.2011 | Business

Jan. 29 (Bloomberg) -- Brian Moynihan, Oswald Gruebel and Josef Ackermann, leaders of some of the world's biggest banks, met during the World Economic...

Larry Summers' Davos Speech: Obama's Top Economic Adviser Adamant Reform Is Coming

AP | ALEXANDER G. HIGGINS | Posted 05.25.2011 | Business

DAVOS, Switzerland — Confronting bankers head on, President Barack Obama's top economic adviser told them Friday to put their customers first an...

Barney Frank: Bank Reforms Proposed By Obama Could Become Law Within Months

ft.com | Patrick Jenkins and Gillian Tett | Posted 05.25.2011 | Business

President Barack Obama's proposals to rein in the US banking sector and its practices could be enacted into law within six months, according to a key ...

Daniel Gross: Big-Five Investment Banks: When Deserve the Public's Scrutiny

newsweek.com | Daniel Gross | Posted 05.25.2011 | Business

But if the banks want us out of their business, they should get out of our business first. We've (barely) lived through a 40-year period in which inve...

Martin Wolf: Bank Reforms Are, But Obama's Proposals Are 'Unworkable, Undesirable And Irrelevant'

ft.com | Martin Wolf | Posted 05.25.2011 | Business

I admire Mr Volcker and strongly support his desire to develop a financial sector that supports the wider economy, rather than makes vast profits out ...