Tuesday, October 11, 2011

Volcker Rule Proves "Murky"

Yada yada yada.

U.S. regulators unveiled a ban on Wall Street banks' trading for their own profit, but the long-awaited Volcker rule proposal was so complex that banks blasted it as unworkable and consumer groups dismissed it as too weak.

Well, that's to be expected.

Simply re-instate Glass Steagall.  Simple, to the point.  Case closed.

1 comment:

Tim Morrissey said...

Amen! Back to Glass-Steagall - which was deep-sixed by none other than William D. (as in "Deregulation") Proxmire, a name which should be familiar to 'sconnies who've been around for a few years.