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Volcker to Push Back on Banks' Trading
Keywords:
The Volcker Rule goes into effect in July 2012. Under the rule proprietary trading operations of banks must be divested by 2012, with banks getting an additional three years to comply for specific situations. The financial industry is pushing back against the rule with comment letters from industry firms. Mr. Volcker outlined his response in his letter of comments to the objections raised by financial firms. To the objection that this would reduce liquidity in the market and raise corporate borrowing rates, Vocker says that too much liquidity is a problem because firms tend to bid up asset prices in the hope that they can always find buyers.
Fomer Fed chairman Volcker's comment letter responds to criticsm of the Volcker Rule in Feb. 2012
07/09/2010
Mr. Volcker says the Volcker rule restricting proprietary trading will make the U.S. financial system safer and healthier. He responds to the objection that it will reduce liquidity and increase borrowing rates by saying that too much liquidity is the problem because financial firms tend to bid up asset prices thinking they can always find a buyer. Some of the complexity in the rule Volcker says, stems from the request from financial firms to define what is and is not proprietary trading. The rle goes into effect in July 2012 under the Dodd-Frank legislation.
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Paul Volcker's fading influence on the Obama administration.
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Former Fed chairman Paul Volcker added to the credibility of the incoming Obama administration during the early days. Now his advice about the need to reinstate a wall between banking for taking federally insured deposits and making loans, from investment banking's trading in securtities, is beig ignored. He does not think regulation will be effective. One reason our system does not work thay way. Influential bankers can water down financial regulation in Congress.
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Volcker Assumes Smaller-Than-Expected Role With Obama
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Volcker Fails to Sell a Bank Strategy
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Fed Chooses Staff Economist as Head of Bank Supervision
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The Volcker Rule in 2011-2012 - implementation of the spirit of the Volcker Rule
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A drafting of the Volcker Rule to ensure compliance to the ideas that motivated former Fed chairman Volcker to suggest the rule.
Grouped Articles
Volcker Plans to Restore Faith in Government
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Paul Volcker Pushes for Reform, and Regrets His Past Silence
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The Volcker Rule on Bank Risks Approaches Its Final Edits
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Regulators Set to Approve Toughened 'Volcker Rule'
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New York Times 12/14/2013
The indefatigable Paul Volcker- a day at his office in Rockefeller Center with Richard Ravitch
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Grouped Articles
Volcker Plans to Restore Faith in Government
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Senior Advisers: Two Old Friends Talk Fishing and Finance
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Charlie Rose Talks to Paul Volcker
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Volcker to Push Back on Banks' Trading
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J.P. Morgan Trades In Its Crown
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Paul Volcker vs. JPMorgan’s London Whale - The Washington Post
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Impact of the Volcker Rule in Europe
02/04/2012
Grouped Articles
Volcker Rule to Curb Bank Trading Proves Hard to Write
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The Volcker Rule on Bank Risks Approaches Its Final Edits
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Regulators Set to Approve Toughened 'Volcker Rule'
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Volcker Rule Stirs Up Opposition Overseas
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Volcker to Push Back on Banks' Trading
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Boos, and Backers, for 'Volcker Rule'
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Paul Volcker talks to Charlie Rose in November 2011
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In this interview Volcker addresses questions about the origins of the financial crisis, the role played by the Federal Reserve, the Volcker Rule and the Dodd-Frank financial reforms, the Republican position of no taxes, the Occupy movement, and the alarming disparity in income growth between the top end and low end of incomes. Volcker says he knows of no years when there was such wide disparities between the enormous income growth at the high end and the lack of growth at the low end- except 1928, and 1929.
Grouped Articles
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Volcker Rule to Curb Bank Trading Proves Hard to Write
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Paul Volcker Pushes for Reform, and Regrets His Past Silence
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The Volcker Rule on Bank Risks Approaches Its Final Edits
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Regulators Set to Approve Toughened 'Volcker Rule'
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Paul Volcker's views on solutions to the global economic crisis.
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Grouped Articles
Volcker Assumes Smaller-Than-Expected Role With Obama
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Volcker Pushes for Limits on Banks' Trading Activities
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Financial Bill Would Create World Model, Volcker Says
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Giving In on Trading, Banks Focus on Other Losses
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Paul Volcker Pushes for Reform, and Regrets His Past Silence
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Volcker on His 'Rule'— Keep It Broad
Wall Street Journal 10/28/2010
Volcker's advice on the writing of regulatory reform
07/09/2010
He advises writing broad rules that are harder for banks to circumvent.
Grouped Articles
Volcker Plans to Restore Faith in Government
New York Times 05/29/2013
Volcker Rule to Curb Bank Trading Proves Hard to Write
Wall Street Journal 09/10/2013
Paul Volcker Pushes for Reform, and Regrets His Past Silence
New York Times 07/09/2010
The Volcker Rule on Bank Risks Approaches Its Final Edits
New York Times 12/03/2013
Regulators Set to Approve Toughened 'Volcker Rule'
Wall Street Journal 12/04/2013
New York Times 12/14/2013
The Volcker Rule and the report of the Squam Lake group of 15 prominent American economists
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Linked Articles
15 Economists Issue Crisis-Prevention Manual
New York Times 06/15/2010
Volcker to Push Back on Banks' Trading
Wall Street Journal 02/13/2012
The Volcker Rule to ban proprietary trading by banks and the efforts to dilute its wording and provisions (1)
09/22/2011
Linked Articles
Volcker to Push Back on Banks' Trading
Wall Street Journal 02/13/2012
Volcker Rule May Lose Its Bite
Wall Street Journal 09/22/2011
The Volcker Rule and the actions taken by the Independent Commission on Banking in Britain
04/07/2011
Britain has a much larger financial sector as aproportion of its economy than the U.S. For this reason the U.K.'s Independent Commission on banking takes a serious view of systemic risks- separating investment banking from deposit taking.
Linked Articles
Volcker to Push Back on Banks' Trading
Wall Street Journal 02/13/2012
British Bank Proposal Expected to Include Stiff Rules
New York Times 04/07/2011
Former Fed chairman Volcker on the Volcker Rule and the ban on proprietary trading by banks
10/27/2011
Volcker's letter of comments on the Rule and the interview with Pete Rose. Here he says why this will make financial markets a safer place and why it will lead to healthy financial markets. The financial industry is opposing the Volcker Rule.
Linked Articles
Volcker to Push Back on Banks' Trading
Wall Street Journal 02/13/2012
Charlie Rose Talks to Paul Volcker
BusinessWeek 10/27/2011
The Volcker Rule to ban proprietary trading by banks and efforts to dilute its wording and provisions (2)
10/12/2011
Linked Articles
Volcker to Push Back on Banks' Trading
Wall Street Journal 02/13/2012
Volcker Rule Might Just Be Kabuki Theater
Wall Street Journal 10/12/2011
The Volcker Rule banning proprietary trading by banks and its implementation
10/28/2010
Linked Articles
Volcker to Push Back on Banks' Trading
Wall Street Journal 02/13/2012
Volcker on His 'Rule'— Keep It Broad
Wall Street Journal 10/28/2010
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