- Wealth PMS (50L+)
The Volcker Rule is in. US Banks can no longer engage in proprietary trading. The rule was proposed by the 86-year old Paul Volcker who is famously credited for destroying inflation in the late 70s/early 80s and is now Obama’s advisor. The rule restricts banks from doing proprietary trading to earn profits, because much of the crisis was caused by large banks with a one-sided bet on housing . . .