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Volcker Rule

Complexity Theory and the Failure of Financial Reform: Part Two

Peter Schwartz | Posted 05.25.2011 | Politics
Peter Schwartz

In Part One of this essay, we mapped the tactile, political surface of financial reform - focusing on the ideas and behaviors of individual political ...

Complexity Theory and the Failure of Financial Reform: Part One

Peter Schwartz | Posted 05.25.2011 | Politics
Peter Schwartz

This is a two-part essay about the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, a 2,300-page piece of legislation ...

GE CEO To Replace Volcker On Obama's Economic Team

The Huffington Post | Lila Shapiro | Posted 05.25.2011 | Business

Early Friday morning, Obama announced a significant shift for the White House economic team: the war against Wall Street greed has lost a major player...

Paul Volcker: Banks' Long-Term Investments Should Be Regulated

The Huffington Post | Amy Lee | Posted 05.25.2011 | Business

As legislators grapple with how to keep banks from engaging in risky, speculative behaviors, former Federal Reserve chairman Paul Volcker's views are ...

A Big Week for US Banks: The Difference Between Good and Evil Proprietary Trading

Lawrence G. McDonald | Posted 05.25.2011 | Business
Lawrence G. McDonald

The Financial Stability Oversight Counsel is releasing an 80 page draft of "recommendations" on the Volcker Rule to the Federal Reserve. But regulators must understand there are two vastly different types of proprietary trading.

Bank CEOs Would Promise To Obey Regulations, Under New Proposal

The Huffington Post | William Alden | Posted 05.25.2011 | Business

In an effort to make financial regulation more airtight, a government oversight panel has recommended a new wrinkle: that bank chiefs should personall...

Volcker Rule Tests New Systemic Risk Council

Posted 05.25.2011 | Business

WASHINGTON (By Dave Clarke and Rachelle Younglai) - The new council of U.S. regulators will face a major test on Tuesday when it unveils recommendati...

Shahien Nasiripour

GOLDMAN UNDER FIRE: Megabank Reveals New Information On Trading Activities

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

Wall Street giant Goldman Sachs generated at least 18 percent of its revenues last year through trading and investing for its own benefit, according t...

Morgan Stanley To Spin Off Proprietary Trading Unit

Posted 05.25.2011 | Business

CHARLOTTE, North Carolina (By Joe Rauch) - Morgan Stanley said it would spin off its proprietary trading unit as an independent firm by the end of 20...

Goldman Prop Traders To Leave To Start Hedge Fund

Posted 05.25.2011 | Business

NEW YORK (Reuters) - Goldman Sachs' last large proprietary trading team is planning to leave the bank in order to start an independent hedge fund, th...

Wall Street Already Finding Loopholes To The 'Volcker Rule'

Posted 05.25.2011 | Business

NEW YORK - U.S. banks have found a way to continue betting their own money on some investments, despite a new law's restrictions on proprietary tradi...

Wall Street Lobbyist To Regulator: 'Are You Trying To Scare Me?'

The Huffington Post | William Alden | Posted 05.25.2011 | Business

Regulators charged with fleshing out the Dodd-Frank financial reform are receiving intense pressure from Wall Street lawyers and lobbyists, the Wall S...

The Volcker Rule After The Midterm Elections

New York Times | Posted 05.25.2011 | Business

The Obama administration saved the deeply troubled megabanks in the United States in early 2009 with a bundle of rescue measures that, compared with s...

Goldman Sachs Disbanding Prop Trading Unit Ahead Of New Rules

bloomberg.com | Christine Harper Saijel Kishan | Posted 05.25.2011 | Business

Sept. 3 (Bloomberg) -- Goldman Sachs Group Inc. is shutting its principal-strategies business, a group that makes bets with the firm's own capital, to...

Former Fed Chief Fights To Keep His Reforms Airtight

The Huffington Post | William Alden | Posted 05.25.2011 | Business

Paul Volcker, the former Federal Reserve chairman, wants the rule that bears his name to be as airtight as possible, the Wall Street Journal reports. ...

Tim Geithner Ignores Volcker Rule, Touts 'Financial Innovation'

The New York Times | SIMON JOHNSON | Posted 05.25.2011 | Business

Amazingly, Mr. Geithner made no reference to the Volcker Rule, either explicitly or even implicitly -- despite the centrality of this idea to the rece...

Volcker Pulls No Punches, Slams 'Broken' Financial System, Banks

The Huffington Post | William Alden | Posted 05.25.2011 | Business

Paul Volcker pulled no punches Thursday in a speech at the Federal Reserve Bank of Chicago, criticizing nearly all aspects of the nation's financial s...

JPMorgan Said To Shut Down Division In Response To Volcker Rule

bloomberg.com | Dawn Kopecki and Chanyaporn Chanjoren | Posted 05.25.2011 | Business

Aug. 31 (Bloomberg) -- JPMorgan Chase & Co., the second- largest U.S. lender by assets, told traders who bet on commodities for the firm's account tha...

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

bloomberg.com | Yalman Onaran | Posted 05.25.2011 | Business

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

Weak Financial Regulation Is Further Defanged

Jeff Madrick | Posted 05.25.2011 | Politics
Jeff Madrick

A significant story on the front page of today's New York Times explains just how easy it will probably be for the financial community to flaunt new regulation. High risk on Wall Street will go on.

Citigroup, Apparently Not Worried About 'Volcker Rule,' Invest Billions In New Funds

bloomberg.com | Bradley Keoun | Posted 05.25.2011 | Business

June 18 (Bloomberg) -- Citigroup Inc. plans to raise more than $3 billion for its private-equity and hedge funds, even as U.S. lawmakers consider bann...

Banks Set To Lose Swaps Desks - Thanks To Volcker: Financial Times

cnn.com | Tom Braithwaite | Posted 05.25.2011 | Business

Banks are likely to lose a key lobbying battle in the US over whether they will be forced to spin off their lucrative swaps desks, according to people...

Lawmakers Confront 'Lobbying Tempest' As Reform Bill Takes Shape

AP | JIM KUHNHENN | Posted 05.25.2011 | Business

WASHINGTON — Congress' final tinkering with Wall Street overhaul this month offers lobbyists a last-ditch shot to reshape the package on behalf of c...

Goldman Sachs Plans To Spin Off Proprietary Trading

Posted 05.25.2011 | Business

Goldman Sachs is "seriously considering spinning off its proprietary trading unit" according to CNBC's Kate Kelly. The group plans to do so to comply ...

Goldman Discusses Spin Off: Report

Reuters | Posted 05.25.2011 | Business

(Reuters) - Goldman Sachs Group Inc (GS.N) executives are weighing spinning off at least a part of the bank's private equity business following financ...