Paul Volcker

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Motley Fool  Feb 18  Comment 
By limiting banks’ ability to engage in proprietary trading, the Volcker rule is one of the Dodd-Frank Act’s most controversial provisions.
Yahoo  Jan 23  Comment 
Dialing back the Volcker Rule that limits banks' ability to engage in speculative investments is a top priority for President Donald Trump's nominee for U.S. Treasury secretary, Steve Mnuchin, according to a document seen by Reuters on Monday. In...
Clusterstock  Jan 21  Comment 
Donald Trump isn't shy to tout his distaste of regulations. Since he kicked off his presidential campaign in June 2015, Trump has derided Obama-era financial regulations as "bad for business" and responsible for America's slow-growing...
CNNMoney.com  Jan 20  Comment 
Wall Street hates the Volcker Rule and expectations have been building that the Trump administration would kill it.
CNNMoney.com  Jan 9  Comment 
Big banks shouldn't act like hedge funds by making dangerous bets that can ruin the economy.
Yahoo  Jan 4  Comment 
In interviews over the past several weeks, half a dozen industry lobbyists said they began meeting with legislative staff after the U.S. election in November to discuss matters including a rollback of Volcker, part of the Dodd-Frank financial...
Clusterstock  Dec 27  Comment 
It's the talk of Wall Street. The prospect of deregulation following the election of Donald Trump — and specifically some kind of softening of the Volcker rule — is being discussed far and wide. Now it seems the Federal Reserve has...




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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.

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