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Monday was the last day for financial firms and industry bodies to comment on the proposed rule, named for Paul Volcker, the former Federal Reserve chairman. A deluge of comment letters had arrived, with more expected to be sent electronically, before...
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Occupy the SEC’s Comment Letter Objects to Excuses for Watering Down Volcker Rule (#OWS)
Naked Capitalism“At some point, great liquidity, or the perception of it, may itself encourage more speculative trading (See here and here for the full story.) But then Jamie Dimon came along and bitch slapped Tall Paul. Ouch. “Paul Volcker by his own admission has...
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In this photo from the Appeal of Conscience Foundation, South Korea's President Lee Myung-bak (top L) attends a ceremony to receive The Appeal of Conscience Foundation's World Statesman Award from Rabbi Arthur Schneier (top C), President and founder of The... View Photo »
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You mean infamy. Not a day goes by without someone piling on to criticise the Volcker Rule, which bans US banks from "proprietary trading", that is, speculating with their own money. Why is he a fan? Now aged 84, Volcker cultivates the too-old-to-care...
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Yeon-Je/Agence France-Presse — Getty ImagesPaul A. Volcker says his attempt to limit risk in the banking industry does not go overboard. On Monday, Mr. Volcker, the former Federal Reserve chairman who almost single-handedly rescued the United States...
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Goldman Sachs Group Inc. , Morgan Stanley and Bank of America Corp. were set to submit their letters to regulators by today. The rule, named after former Federal Reserve Chairman Paul Volcker, was included in the 2010 Dodd-Frank Act in an effort to...
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In this photo from the Appeal of Conscience Foundation, South Korea's President Lee Myung-bak (2nd L) receives The Appeal of Conscience Foundation's World Statesman Award from foundation President and founder Rabbi Arthur Schneier (2nd R), as United Nations... View Photo »
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Defending the reform named after himself, Volcker said that high-risk proprietary trading was inconsistent with the public mission of banks and the government support they get, via cheap Fed credit and deposit insurance. But he did not comment directly...
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Federal Reserve Chairman Paul Volcker said those attacking his namesake rule for reducing trading activity in capital markets ignore that higher volumes may actually lead to bigger risk-taking. “There should not be a presumption that evermore market...
About Paul Volcker
Wikipedia
Paul Adolph Volcker (born September 5, 1927) is an American economist. He is best known as Chairman of the Federal Reserve under United States Presidents Jimmy Carter and Ronald Reagan (from August 1979 to August 1987). He is currently chairman of the newly formed Economic Recovery Advisory Board under President Barack Obama. Full Article
Related Photos
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AP Photo
South Korean President Lee Myung-bak, second from right, receives the The Appeal of Conscience Foundation's World Statesman Award from the foundation's Founder and President Rabbi Arthur Schneier, second from right, as United Nations Secretary-General Ban Ki-moon, left, and Paul Volcker...
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Reuters Pictures
Paul Volcker, former chairman U.S. Federal Reserve takes part in the Spruce Meadows Changing Fortunes Round Table on business in Calgary, Alberta, September 9, 2011.
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Reuters Pictures
Paul Volcker, former chairman of the U.S. Federal Reserve and Chairman of President Barack Obama's Economic Recovery Advisory Board, addresses Canadian business leaders during the Changing Fortunes Round Table on economic recovery at Spruce Meadows in Calgary, Alberta, in this...
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Reuters Pictures
In this photo from the Appeal of Conscience Foundation, South Korea's President Lee Myung-bak (top L) attends a ceremony to receive The Appeal of Conscience Foundation's World Statesman Award from Rabbi Arthur Schneier (top C), President and founder of The Appeal of Conscience Foundation,...
View Photo » -
Reuters Pictures
Douglas Oberhelman, (L) chief executive officer of Caterpillar and marquee speaker talks to Paul Volcker, former chairman of the U.S. Federal Reserve during the Spruce Meadows Changing Fortunes Round Table on business in Calgary, Alberta, September 9, 2011.
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Reuters Pictures
Former U.S. Federal Reserve Chairman Paul Volcker listens to comments during a panel discussion, on how the current financial crisis has changed the role of central banks, at the National Press Club in Washington, in this October 11, 2010 file photograph. Volcker was discussing the...
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Reuters Pictures
Former U.S. Federal Reserve Chairman Paul Volcker attends a news conference in Seoul in this November 5, 2010 file photograph. Volcker was discussing the topic of proprietary trading at a time of intense debate and lobbying on Capitol Hill related to financial reform during an interview...
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AP Photo
South Korean President Lee Myung-bak, second from right, receives the The Appeal of Conscience Foundation's World Statesman Award from the foundation's Founder and President Rabbi Arthur Schneier, second from right, as United Nations Secretary-General Ban Ki-moon, left, and Paul Volcker...
View Photo »
