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Posts Tagged ‘SIVs’

Amar Bhide Makes Case for Volcker Rule

Posted by Larry Doyle on February 20th, 2012 8:50 AM |

Why do you think former Fed chair and widely respected central banker Paul Volcker paid a visit the other day to SEC head Mary Schapiro?

I would gather that Mr. Volcker was not there merely to exchange pleasantries. No, clearly Mr. Volcker was exhorting Ms. Schapiro to withstand the pressure currently being applied by many members of the Wall Street-Washington Incest society to water down the Volcker Rule which would curtail proprietary trading on Wall Street. (more…)

Proprietary Trading Did Bring Down Wall Street

Posted by Larry Doyle on February 3rd, 2010 12:37 PM |

The Wall Street lobby in all its glory is fighting tooth and nail to defend its turf from the volley launched by former Fed Chair Paul Volcker. Recall that the newly designated Volcker Rule, if implemented, would disallow proprietary activities from those institutions taking consumer deposits. This implementation would effectively reinstitute the Glass-Steagall Act which was rescinded in 1999.

The proprietary activities most often highlighted by those in the banking community are investment and trading activity within private equity, hedge fund and prop trading desks. The banks are screaming that these activities should not and need not be separated from their overall operations because these activities did not cause our economic crisis. They would be correct on one hand, but how convenient that their definition of proprietary is not truly comprehensive. How so? (more…)






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