April 29, 2010 at 19:27 PM EDT
Bank Trading Bans Would Not Address Fin'l Crisis Causes
Policymakers, like generals, tend to fight the last war. So the proposed bank proprietary trading ban is puzzling to some because it wouldn't have averted the biggest blow-ups in the 2008 financial crisis. The basic idea behind the Volcker Rule, named after its leading sponsor, former Federal Reserve Chairman Paul Volcker, is that banks shouldn't use FDIC-insured deposits to make big speculative bets that might result in a taxpayer (or FDIC)
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