Volker Rule News Today

Utility industry news and analysis for energy professionals.

In his public resignation letter in today’s New York Times, former Goldman Sachs executive Greg Smith said that one of the fastest ways to get ahead with the firm is to persuade clients “to invest in the stocks or other products that [the firm is] trying to get rid of because they are not seen…

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Welcome back, everybody. the federal reserve has proposed a plan that could loosen rules for banks when it comes to risky trading. the central bank yesterday unanimously advanced the proposition to revise whats known as the volker rule. it was proposed during the financial crisis in an effort to curb the high risk trades and generally prevents banks from trading through their own profit or having stakes in the hedge fund or a private equity fund. the change would allow banks to have stakes in th...

Is going. there are a little correlated but not as much as the president would have us believe. and he also says this shows all the confidence. i think its very rationale for wall street firms to have confidence. everything hes proposing would cut taxes and give them a lot of profits. over the last 10, 20 years weve seen a divergence of regular people in wall street. >> also cuts the compliance burdens of wall street firms if you roll back dodd/frank. that takes a legislative action. >> how long...

two straight years, job creation seems to be slowing down. earnings for middle income americans fell some 7% in the past decade. and then there are investments. your i.r.a., your 401(k), your pensions. theyre a second road to prosperity. that is complicated in this volatile market. for those of you looking for a safe harbor by investing in fixed income or parking money in the shelter of a bank, youre getting nothing. even our virtually nonexistent inflation is higher than what youre ea...

spending and thats because trat decisional path to prosperity is still strewn with debris from the last storm. the big one, the recession. your job and the wage you bring home is the single most important way to build wealth. but despite net job growth for two straight years, job creation seems to be slowing down. earnings for middle income americans fell some 7% in the past decade. and then there rinare investmen. that is complicated in this volatile market. for those of you looking f...

Movement came from, the bailout of wall street. taet party movement hates wall street as much as -- >> then why are they republican? >> because they feel like the government has been taken over by wall street. big government and big business, they are all in cahoots together. jp morgans jamie dimon has been doing and wall street as a whole has been trying to erode the dodd/frank bill, trying to provide even more license for what they were doing before. the so-called volker rule under the dodd/fr...

>> explain the volker rule in common language. >> if you were a bank and received deposits and because of that you get positive assurance from the fdic, you may service your clients but you cannot engage in trading on your own account. you can lend money -- banks are supposed to do that. weve forgotten that. theyre supposed to take money from people who have excess capital, bundle it up and give it to people who will produce goods and services. if youre a customer, a money manager, you can do th...