Thursday, May 10, 2012

Volcker says his namesake rule reduces conflicts of interest

 Former Federal Reserve Chairman Paul Volcker told a Senate banking subcommittee that it is unlikely that banks will be able to handle the potential customer conflicts presented by trading activities. "The risk of failure of 'large, interconnected firms' must be reduced, whether by reducing their size, curtailing their interconnections, or limiting their activities," Volcker said. He said the Volcker rule is a good start toward that end.

No comments: