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October 11, 2011

With Volcker Rule, Wall Street Braces for Change

“Wall Street loathes change. That could explain its displeasure with the Volcker Rule.  The rule, unveiled by regulators on Tuesday, would overhaul how the banking industry carries out its trading activity. Regulators plan to limit banks from investing in hedge funds while also prohibiting proprietary trading, a major profit center where banks trade with their own money rather than for clients.”

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