If we were to strike the pose of Hamlet and ask: Volcker Rule? Or No Volcker Rule? We'd go with "YES" and then add a forgettable soliloquy with phrases such as "no more bank bailouts" and "get the risky activity away from taxpayer support."
Sullivan & Cromwell today issued a good, lengthy discussion of Volcker. (Thank Heaven for Executive Summaries and Tables of Contents!)
Supporting the Volcker Rule has its downside. It is not "a step in the right direction." The right direction is elsewhere - future posts will spill our thoughts!
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