Volcker Rule Will Hit Goldman Sachs, Morgan Stanley Hardest |
| Forbes - Oct 9, 2011 |
The Volcker rule scared bankers perhaps more than anything else coming out of the Dodd-Frank reform, and now a leaked draft of the rule shows regulators may be giving them some breathing room.
The rule, named after former Federal Reserve Chairman Paul Volcker, was put forth to restrict banks from making speculative bets and trades with their own capital. Banks made huge profits on what’s known as proprietary trading in the years leading up to the financial crisis (over $15 billion by some measures), and were rightfully nervous about how the Volcker rule would eat into their bottom lines in the future.
This week banks and their lawyers got an inside look at what the rule might look like. A draft version of the rule was leaked and posted on the American Banker’s website, and was the first detailed look at the rule the industry has been able to get its hands on.
Read Full Article from Forbes
- Posted: 2011-10-09 06:50:26
| More Stock Investor Place Company News |
 |
|
|
|
| Stock Investor Place Company News Archive |
|
|
|
