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Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-20-11 06:58 AM
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11. Volcker takes aim at long-term investments
Edited on Thu Jan-20-11 06:58 AM by Pale Blue Dot
Paul Volcker, the former Federal Reserve chairman, is encouraging a crackdown on banks longer-term principal investments as his plan to prohibit short-term proprietary trading comes closer to implementation.

Goldman Sachs investment in Facebook is the sort of deal that could be affected if Mr Volckers call to curb banks longer-term investments is taken up by regulators or Congress. Democratic congressional aides are already examining the issue.

Mr Volcker told the Financial Times that regulators had made a good honest effort to develop his Volcker Rule in a study released on Tuesday. The rule, which became law as part of the Dodd-Frank financial reforms, prohibits banks from trading on their own account or investing in private equity or hedge funds.

But Mr Volcker said he and Congress had perhaps lost sight of longer-term activities, which are considered merchant banking and are authorised under banking rules. Potentially what is merchant banking and what is a proprietary trade needs some delineation, I think, he said.

This makes me glad that Volcker's on the outside now...
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  -STOCK MARKET WATCH, Thursday, January 20, 2011 Pale Blue Dot  Jan-20-11 06:12 AM   #0 
  - Today's Reports  Pale Blue Dot   Jan-20-11 06:13 AM   #1 
  - Weekly U.S. jobless claims sink 37,000 to 404,000  Pale Blue Dot   Jan-20-11 07:41 AM   #15 
  - December Existing-Home Sales Jump  Pale Blue Dot   Jan-20-11 09:09 AM   #35 
  - December leading economic indicators up 1%  Pale Blue Dot   Jan-20-11 09:11 AM   #36 
  - Philly Fed factory index slips to 19.3 in Jan.  Pale Blue Dot   Jan-20-11 09:13 AM   #37 
  - Bottom line on the reports:  Pale Blue Dot   Jan-20-11 09:18 AM   #38 
  - Oil falls to near $91 amid China inflation worries  Pale Blue Dot   Jan-20-11 06:14 AM   #2 
  - Emerging Market Stocks Fall Most in Six Weeks on China Inflation Outlook  Pale Blue Dot   Jan-20-11 06:23 AM   #3 
  - to just a lay person -- these guys never sound like they know what they want.  xchrom   Jan-20-11 06:33 AM   #4 
     - I agree.  Pale Blue Dot   Jan-20-11 06:38 AM   #6 
     - Their event horizon is about 23 minutes out n/t  Po_d Mainiac   Jan-20-11 06:40 AM   #7 
        - ...  xchrom   Jan-20-11 07:47 AM   #18 
        - It is measured in minutes????  AnneD   Jan-20-11 12:30 PM   #53 
  - Stocks Drop as China Growth Stokes Interest-Rate Concern; Commodities Fall  Pale Blue Dot   Jan-20-11 06:37 AM   #5 
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  - Spain to Ramp Up Bailout of (Savings) Banks  Ghost Dog   Jan-20-11 06:57 AM   #10 
  - Volcker takes aim at long-term investments  Pale Blue Dot   Jan-20-11 06:58 AM   #11 
  - Ben Ali relatives arrested: Tunisian state TV  Ghost Dog   Jan-20-11 07:05 AM   #12 
  - A few relatives charged. Just a drop in the bucket.  Robbien   Jan-20-11 09:02 AM   #34 
     - Indeed.  Ghost Dog   Jan-20-11 10:58 AM   #48 
     - I could curse you in several European languages  Demeter   Jan-20-11 02:05 PM   #61 
     - Tunisia protesters demand change  Ghost Dog   Jan-20-11 11:59 AM   #51 
        - BTW. On the mood in some parts of Europe:  Ghost Dog   Jan-20-11 12:36 PM   #54 
  - 12 Economic Collapse Scenarios That We Could Potentially See In 2011  Po_d Mainiac   Jan-20-11 07:29 AM   #14 
  - Hope and Change? DILBERT  Demeter   Jan-20-11 07:41 AM   #16 
  - Y'know, most of the time I don't "get" Dilbert.  Tansy_Gold   Jan-20-11 08:10 AM   #22 
     - I'm sorry  Demeter   Jan-20-11 08:19 AM   #26 
        - Oh, it wasn't a complaint.  Tansy_Gold   Jan-20-11 09:34 AM   #39 
           - I think you really need...  AnneD   Jan-20-11 01:40 PM   #58 
              - Been there. Done that.  Ghost Dog   Jan-20-11 04:16 PM   #70 
                 - Et moi aussi.  Tansy_Gold   Jan-20-11 05:08 PM   #72 
  - Goldman Executive Named as SEC Investment Chief  Demeter   Jan-20-11 07:43 AM   #17 
  - Well, of course! Why not?!?  Roland99   Jan-20-11 07:59 AM   #20 
  - Ditto. n/t  Tansy_Gold   Jan-20-11 08:09 AM   #21 
  - not unexpected  DemReadingDU   Jan-20-11 08:39 AM   #30 
  - Will she run the SEC function FROM her Goldman office, or will she  mbperrin   Jan-20-11 10:01 AM   #41 
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  - Futures - Techs not so good  Roland99   Jan-20-11 07:58 AM   #19 
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  - Volcker highlights long-term investments  Demeter   Jan-20-11 08:17 AM   #25 
  - F.B.I. and Police Arrest More Than 100 in Mob Sweep  Demeter   Jan-20-11 08:23 AM   #27 
  - Don't tease me...  AnneD   Jan-20-11 01:42 PM   #59 
     - I Gotta Find Amusement Wherever It Lies in this Godforsaken Season  Demeter   Jan-20-11 02:09 PM   #62 
  - Technology: A dip in the Valley  Demeter   Jan-20-11 08:26 AM   #28 
  - Got to go out and freeze my extremities now. Have a Good Day, If Possible  Demeter   Jan-20-11 08:27 AM   #29 
  - Brrr, stay warm!  DemReadingDU   Jan-20-11 08:41 AM   #31 
  - 75F and Sunny. What's to freeze off?  Roland99   Jan-20-11 08:51 AM   #33 
     - That's still cold.  Fuddnik   Jan-20-11 01:06 PM   #56 
        - So You Came Back  Demeter   Jan-20-11 02:13 PM   #63 
        - Hey, good to see ya!  mbperrin   Jan-20-11 03:57 PM   #68 
  - HP Plans Independent Investigation of Ex-Chief Hurds Departure  UpInArms   Jan-20-11 08:44 AM   #32 
  - Makes me wonder what the REAL issue is.  Demeter   Jan-20-11 02:14 PM   #64 
  - Debt: 01/18/2011 14,052,380,830,542.80 (UP 44,437,293,671.65) (Tue, UP a lot.)  Festivito   Jan-20-11 09:57 AM   #40 
  - Debt: 01/19/2011 14,053,512,150,448.45 (UP 1,131,319,905.65) (Wed, UP a little.)  Festivito   Jan-20-11 03:05 PM   #66 
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  - Cuomo Weighs More Than 10,000 Layoffs  Pale Blue Dot   Jan-20-11 10:06 AM   #43 
  - Boeing C-17 workers confirm layoffs (up to 1,000)  Pale Blue Dot   Jan-20-11 10:07 AM   #44 
  - Piker! Texas could be laying off 100,000 teachers with the new budget  mbperrin   Jan-20-11 04:05 PM   #69 
  - 1,600 layoffs in the works at Hanford  Pale Blue Dot   Jan-20-11 10:09 AM   #45 
  - Career Education To Cut 600 Jobs In U.S. Amid Slowing Enrollment - Update  Pale Blue Dot   Jan-20-11 10:12 AM   #46 
  - Hostess To Close Queens Wonder Bread Factory (200 more jobs gone)  Pale Blue Dot   Jan-20-11 12:28 PM   #52 
     - Oh, there's not going to be ANY layoffs this year!  Demeter   Jan-20-11 02:19 PM   #65 
  - 11:40am - DOWn day  Roland99   Jan-20-11 10:40 AM   #47 
  - k&r n/t  Hotler   Jan-20-11 11:05 AM   #49 
  - Free exchange: Growth: The China syndrome  Ghost Dog   Jan-20-11 11:46 AM   #50 
  - Builders Still Betting on Mega-Mansions ('scuze my French but, WTF?)  TalkingDog   Jan-20-11 12:59 PM   #55 
  - "outskirts of the Washington, DC metro area"  Ghost Dog   Jan-20-11 01:27 PM   #57 
  - Oh the Markets Tonight Are Frightful  Demeter   Jan-20-11 03:55 PM   #67 
     - A slightly different version  bread_and_roses   Jan-20-11 05:02 PM   #71 
        - Heh heh heh. Oh yeah.  Ghost Dog   Jan-20-11 07:53 PM   #73 

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