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US Banks Can’t Prop-Trade, says the Approved Volcker Rule

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 . . .

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