Under the Mountain Bunker

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    image: ihatepeacocks 
…
Volcker to Push Back on Banks’ Trading - The former Federal Reserve chairman is expected to file a comment letter on the Volcker rule before a Monday deadline, contending that the U.S. financial system will be safer and healthier with a ban on proprietary trading by banks, according to people familiar with the situation. […] The former Fed chairman also plans to push back on critics who claim proprietary trading didn’t play a role in the financial crisis, people familiar with his thinking said. Betting with a firm’s own money can cause employees to be more focused on individual profit than the well-being of clients, Mr. Volcker believes.

    image: ihatepeacocks 

    Volcker to Push Back on Banks’ Trading - The former Federal Reserve chairman is expected to file a comment letter on the Volcker rule before a Monday deadline, contending that the U.S. financial system will be safer and healthier with a ban on proprietary trading by banks, according to people familiar with the situation. […] The former Fed chairman also plans to push back on critics who claim proprietary trading didn’t play a role in the financial crisis, people familiar with his thinking said. Betting with a firm’s own money can cause employees to be more focused on individual profit than the well-being of clients, Mr. Volcker believes.

    — 2 years ago with 2 notes
    #news  #politics  #paul volcker  #former federal reserve chairman  #volcker rule 
    1. underthemountainbunker posted this