volcker rule

NEW YORK -- In response to the final, approved version of the Volcker Rule, Demos Senior Fellow Wallace Turbeville, a former investment banker and the author of Demos' recent Volcker Rule explainer and The Detroit Bankruptcy report, released the following statement:  "...
12/11/2013
Press Release
The much-anticipated final regulations implementing the Volcker Rule will be released today and, almost miraculously, it seems to be significantly stronger than the proposed text publicized more than a year ago. We will all have to await the actual wording since this is an area in which the devil...
12/10/2013
Blog
The Volcker Rule is a requirement in the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 that is sometimes referred to as a “mini-Glass-Steagall.” It is based on the same principle that kept banking safe between the Depression-era bank reforms and the Clinton-era deregulation,...
12/10/2013
Publication
The General Accounting Office has issued a report on the progress of the regulatory agencies as they implement the Dodd-Frank Act financial reforms. It is a depressing read. Fewer than half of the 236 rules required by the act have been adopted. There are not even proposed rules that the public can...
01/25/2013
Blog
Should Dodd-Frank be overturned, the financial industry stands to make (with government backing, of course) a ton of money. It’s unsurprising that its repeal has become a centerpiece of the 2012 campaign, with Wall Street donating far more to candidates who want to overturn or weaken the law. What...
09/06/2012
Blog
The record drought and crop failures will create shortages, especially of corn, and will increase the prices of many foods that either contain the stuff or use it to feed livestock. That, in turn, will cause an uptick in the rate of inflation. And higher prices will give the inflation hawks in...
08/13/2012
Blog
If you are aware of some of the specific derivatives and securities that are traded by banks and other financial services firms, you know that actual transactions in many of them occur infrequently. Prices based on what a willing buyer would pay a willing seller are difficult to come by. Let’...
07/20/2012
Blog
Dimon’s testimony yesterday before the Senate Banking Committee -- the week of the anniversary of the passage of the Glass-Steagall Act in 1933 -- is ironic, to say the least. He objected to the Volcker Rule’s prohibitions against proprietary trading by federally insured banks (acting like hedge...
06/14/2012
Blog
Staring back at me from the front page of Sunday’s New York Times was a headline that promised an answer to a puzzle that had endured for more than a month, and which I have explored here and here. The blame for the multi-billion dollar JP Morgan credit default swap fiasco had been discovered...
05/21/2012
Blog
The New York Times' Andrew Ross Sorkin (above, Credit/David A.Grogan) and Jim LaCampJP Morgan Chase’s “terrible, egregious mistake” has touched off a firestorm of utter nonsense, ignited by the Jamie Dimon’s subtle spinning and fanned by the misinformation parroted by the...
05/16/2012
Blog
Syndicate content