Paul Volcker

RECENT NEWS
Mondo Visione  Jul 21  Comment 
GFT, one of the world’s leading IT solutions providers for the financial services industry, today announced that the firm has been shortlisted in the category of ‘Best Offshored Outsourcing Team’ at this year’s NOA Outsourcing Professional...
Financial Times  Jul 9  Comment 
The head of the House Financial Services Committee points to impact of financial reform on liquidity in $10tn market for corporate debt
New York Times  Jul 3  Comment 
At times, investment banks have blurred the line between capital-raising and banned proprietary trading, Antony Currie of Reuters Breakingviews writes.
New York Times  Jun 20  Comment 
A year from now, Wall Street firms have to comply with the Volcker Rule -- regulations that aim to restrict the type of trading that banks can do. Two law firms have come up with products to keep up with the rule's demands.
Forbes  Jun 16  Comment 
A golden age of equitable prosperity and financial stability is closer than Mr. Volcker believes.
Mondo Visione  Jun 12  Comment 
Summary The Office of the Comptroller of the Currency (OCC) is issuing interim procedures for examiners to assess banks’ progress in developing a framework to comply with requirements of section 619 of the Dodd-Frank Wall Street Reform and...
Forbes  Jun 11  Comment 
While proprietary trading desks are a thing of the past with the implementation of the Volcker Rule, some of the banks were also forced to take a hard look at their capital-intensive debt trading operations in the wake of steeper capital...
Financial Times  Jun 4  Comment 
Memo unlikely to provide clarification on whether or not institutions will have to dispose of investments held within covered funds




RELATED WIKI ARTICLES

Related Articles

 
TOP CONTRIBUTORS

Image:PaulVolcker.jpg Paul Adolph Volcker was Federal Reserve Chairman under United States Presidents Jimmy Carter and Ronald Reagan (from August 1979 to August 1987). He is currently chairman of the newly formed Economic Recovery Advisory Board under President Barack Obama[1].

Volcker is credited to have lifted the US economy out of a decade stagflation that sported such negative highlights as 21% interest rates, solid two-digit-inflation and unemployment rates topping 10% after he took over the job from his predecessor G. William Miller.

Latest developments in 2010

After a 22-year semi-retirement Volcker was appointed as head of Economic Recovery Advisory Board under President Barack Obama in early 2009. Volcker, always a staunch advocate of balanced budgets, who told the world as early as 2006 that the USA's deficit spending is unsustainable, landed a surprise victory when US President Barack Obama largely followed his proposals in January 2010 that will (as of January 2009) ban proprietary trading for banks receivinf federal money and essential re-introduce the Glass-Steagall Act that separated investment banks and such taking deposits from 1933 to 1999. It is coming as a surprise that Volcker outgunned Wall Street-pal Treasury Secretary Timothy Geithner who had opted for more lax deals for his Wall Street friends. Whether this means Obama moves from Wall Street to Main Street is up to your mind.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki