Former Federal Reserve Chairman Paul Volcker will try to dispel some of the
recent complaints made by Wall Street executives in his testimony to the
Senate Banking Committee Tuesday.
Ever since President Barack Obama proposed last month limiting the ability
of commercial banks to engage in “proprietary trading,” bankers have
complained that the definition of “proprietary trading” is too open to
interpretation and vague. Mr. Volcker doesn’t buy it.
“Every banker I speak with knows very well what
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great hopefully this time those greedy bastards get some real shit
