NEWSMAX: Wall Street banks will get the final decision about a controversial ban on betting with their own money next week after years of debate, as three U.S. regulators each announced meetings to vote on the Volcker rule…
Treasury Secretary Jack Lew is pushing for the rule to be finished this year. But the regulators have been struggling to hammer out a compromise on the complexities of the text, which has now mushroomed to a 1,000 pages…
The rule bans proprietary trading, a common practice in the heady days before the 2007-09 financial crisis, when banks played financial markets for profit. It also limits banks’ holdings in hedge funds and private equity funds… (more)
