Volcker Pitches His Rule

On the Hill

Updated Apr. 25, 2017 10:53AM EDT / Published Feb. 02, 2010 12:13PM EST

Paul Volcker was on the Hill Tuesday to pitch the rule that carries his imprimatur: The so-called Volcker Rule, which would separate commercial banking from investment banking. Volcker dismissed industry concern that it would be difficult to separate the activities, saying “Every banker I speak with knows very well what ‘proprietary trading’ means and implies.” Commercial banks would still be allowed to trade so long as it is undertaken for customers, and hedge funds and smaller institutions could continue aggressive betting so long as they are allowed to die when they fail.

Read it at Financial Times

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Volcker Pitches His Rule