FINANCIAL REFORM

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Recent Reports

Dec. 13, 2012 - Business as Usual
July 20, 2012 - Delayed and Diluted
May 17, 2012 - The Repo Ruse
May 14, 2012 - Forgotten Lessons of Deregulation
More - See All Financial Reform Reports

Business as Usual

99.9 Percent of Banks Would Not Be Affected by Volcker Rule

Dec. 13, 2012 — The Volcker Rule, among the most controversial aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act, will prohibit federally insured banks from engaging in proprietary trading, which involves speculation through short-term trades in stocks, derivatives and other securities.The financial crash, borne of reckless banking practices, cost the economy about $12 trillion. But Wall Street lobbyists have sought to water down the rule based on relatively miniscule costs that it would impose on them. A new Public Citizen report shows that most bankers have little to fear. In reality, the Volcker Rule will mean no change, no closure of business divisions, no costs from foregone financial activity, for more than 99.9 percent of banks.

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