10/05/2010 05:12 am ET Updated May 25, 2011

Tim Geithner Ignores Volcker Rule, Touts 'Financial Innovation'

Amazingly, Mr. Geithner made no reference to the Volcker Rule, either explicitly or even implicitly -- despite the centrality of this idea to the recent debate. It appears to be nowhere at all in his list of priorities (or on the to-do list of Michael Barr, the responsible assistant secretary, who gave a follow-up speech on Wednesday). He is apparently signaling to all the regulators involved that this is not a top priority for the administration and -- presumably -- they should toe this line if they would like to be reappointed.

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