Loading ...What I find somewhat coincidental, then, is this week’s revision (by the Federal Reserve) of the Volcker Rule nearly five years after the prohibition on bank proprietary trading. Why now? Aren’t banks supposedly making boat loads of $ with interest rates creeping back up?
Fed Chairman Powell claims that this will “allow firms to conduct appropriate activities without undue burden, and without sacrificing safety and soundness.”
It almost sounds to me that they’re setting up the taxpayer (deposit holders) to be left holding the bag. Wasn’t this rule originally established to protect the taxpayer?