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October 26, 2012

Lawmakers Seek Urgency in Volcker Rule


“With the Volcker Rule, a complex plan to rein in Wall Street risk-taking, the waiting is the hardest part.

A year after first proposing the rule, regulators are still fine-tuning a final version. And the Congressional supporters of the crackdown, which would limit big banks from trading with their own money, are growing antsy.

“We urge you to move quickly, make the final adjustments needed to simplify and strengthen the October 2011 proposal, and bring the process to a conclusion,” Senator Carl Levin, Democrat of Michigan, and Senator Jeff Merkley, Democrat of Oregon, said in a letter to regulators on Thursday.”

To read the full New York Times article click here

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