The section of Dodd-Frank financial reform dealing with limits on the proprietary investment activities of large, financial institutions that are performed with their own bottom line in mind — and not their clients — is known as the Volcker Rule.
The author of that rule, former chair of the Federal Reserve, Paul Volcker wants to know why his rule is not implemented more than three years after the ratification of Dodd-Frank.
“It’s unfair to the market not to know what the rules are,” he says on Bloomberg TV.
“If you think [propreitary trading] is a bad thing, well we outta get together and do something about it.”
