The Volcker Rule for Financial Institutions
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Uploaded by whitehouse on Jan 21, 2010
President Obama calls for new restrictions on the size and scope of financial institutions to rein in excessive risk-taking and protect taxpayers. The proposed legislation is called the Volcker Rule in recognition of the efforts of former Federal Reserve Chairman and current Presidents Economic Recovery Advisory Board Chairman Paul Volcker. January 21, 2010.
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All Comments (112)
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@douglasjwilson I fully agree. That wouldn't have protected the MF Global fiasco there though because the customers were commodities traders. Right?
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It's what you do, Mr. President, not what you say.
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Hmm. Bail out the banks with no strings attached , then say the American people were "forced" to bail them out. Sounds like he still feels he made the right decision when he chose to listen to all the former bank execs in his cabinet during the start of the crisis.
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I love how this is titled "Obama calls for..." as if these are his ideas and as if there aren't a handful of people working tirelessly tilting at windmills and spending their own political capital to get this underway.
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This whole risk is evil is too simplified. Not getting at the root of the problem. If there is gobs of money to be made by an unregulated derivatives market and shadow banking system. There will always be willing participants no matter what...and the bigger the derivatives market grows, the more inherently unstable it becomes.
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He put bank executives in his cabinet and as department heads; They drew the line, and he walked it.
Well, at least he has been listening the people as to why he is so disliked and is aware of why his approval rating is so low.
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@Machao6 Well.. Our Indian PM has never given an interview to any Indian news agency! He is the most educated PM in the world!! Howz that?
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I WANT THE PAUL VOLCKER RULE !
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Got to admit, I envy you guys with a leader like Obama. He explains everything!
Whether you agree with him or not, he says in no uncertain terms what he's done and why, and how he thinks it'll work.
In the UK, we struggle to get *an* answer out of our politicians, let alone the head honcho.
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tvapakvoe 2 years ago 6
maderend: The reason why Mr Brown won in Massachutes is because he lied.. Massachutes has 97% healthcare coverage in their state. Mr Brown told them they will lose this if Obama's healthcare plan goes through which is a lie. He also told people M.A will lose many jobs because of cap and trade etc. He lied and freightened them into voting for him. Watch fox news coverage and it will show you how Mr Brown won. Obama is continuing to do what he started last year working on jobs!
iLuvAkeys4ever 2 years ago 5