Volcker Rule Curbs Useful, Profitable Proprietary Trading, Not Risky Lending

by Hans Bader on December 11, 2013

The government just approved a regulation called the Volcker Rule to curb proprietary trading by banks — even though such trading did not cause the financial crisis, or lead to massive financial losses by banks and taxpayers the way other, much riskier practices by banks did (like risky mortgage loans, which the Obama administration has pressured banks to once again engage in, in the name of fair lending and affordable housing).

The Wall Street Journal reports:…..To Read More…..