Boon or Bane? It Depends Which Side of Street You're On
Depending on whom you ask, the so-called Volcker rule will mean either the end of banking as we know it or toothlessly allow banks to continue to bet the house—with the backing of the U.S. taxpayer. Neither of these extremes are true, of course.
The Volcker rule, part of the landmark 2010 Dodd-Frank financial-overhaul law, will curtail large banks' proprietary-trading activities. In other words, no more multibillion-dollar bets on whether the housing market will rise or fall or whether the dollar is going to do better (or worse) than the euro or yen.
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