Wednesday, April 7, 2010 as of 11:14 AM ET
The Volcker Rule is a specific section of the Dodd–Frank Wall Street Reform and Consumer Protection Act originally proposed by American economist and former United States Federal Reserve Chairman Paul Volcker to restrict United States banks from making certain kinds of speculative investments that do not benefit their customers.
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Remember when the heads of CEOs were supposed to roll when things went sour at their companies?A key part of the Sarbanes-Oxley law enacted to stop future scandals like Enron and WorldCom was that chief executives had to personally certify that all was kosher on their books.
The law was designed to prevent a Sgt. Schultz "I know nothing" defense and make top execs personally responsible for the wrongdoing of everyone at their companies.That should make folks like Jon Corzine and even, to a lesser degree, Jamie Dimon quake in their boots, right?Not really.Turns out there are so many loopholes that market regulators don't even bother trying to hold execs accountable under Sarbox anymore. Which is why the permanent DC rules factory now at full tilt will likely be ignored in the future, as executives continue to do an end run around the rules. The U.S. government moved quickly after Enron, WorldCom and other companies blew up in accounting scandals where executives had inflated their earn...
Former AIG CEO Hank Greenberg on efforts to increase regulations on the financial sector, particularly after J.P. Morgan’s losses.
Two U.S. Senate Democrats said Thursday they were optimistic regulators would impose tight restrictions on banks' trading activities after the trading loss of more t...
FBN’s Rich Edson on the war over bank regulation and the Senate Banking Committee confirming it wants to hear directly from Jamie Dimon on J.P. Morgan’s losses.
LOUISVILLE, Ky. -(Dow Jones)- Federal Reserve Bank of St. Louis President James Bullard reiterated Thursday banks deemed "too big to fail" should be split up and cit...
Two U.S. Senate Democrats stepped up their call Thursday for bank regulators to ensure that banks are barred from making risky bets, pointing to the trading loss of ...
Signature Bank chairman Scott Shay argues regulators should level the playing field and not just worry about big banks.
WSJ Opinion Page Deputy Editor Dan Henninger argues suggestions to make the Volcker Rule stronger when it doesn’t even exist will only hurt the economy.
Treasury Secretary Timothy Geithner and J.P. Morgan Chase & Co. (JPM) Chief Executive James Dimon met in early March to discuss a new rule restricting commercial ban...
A top U.S. banking official Wednesday said regulators are working to define hedging, a key term in Washington this week amid questions about whether J.P. Morgan Chas...
Leo Hindery of Intermedia Partners weighs in on banking and proprietary trading.
Sen. Mike Johanns, (R-Neb.), is calling on J.P. Morgan CEO Jamie Dimon to come to Capitol Hill and explain what happened during the trading blunder.
A top U.S. House Republican on Wednesday defended J.P. Morgan Chase & Co. (JPM) in the wake of more than $2 billion trading loss disclosed last week, saying the blun...
CFTC Commissioner Bart Chilton on why the Volcker Rule needs to be streamlined.
U.S. regulators Tuesday received a preliminary briefing on J.P. Morgan Chase & Co.'s (JPM) $2 billion-plus trading loss, saying the bank's troubles will provide inpu...
U.S. regulators will study J.P. Morgan Chase & Co.'s (JPM) trading losses to help shape a new rule meant to stop banks from making risky bets with their own money, a...
U.S. regulators will use the real-life example of J.P. Morgan Chase & Co.'s (JPM) trading losses to help shape a new rule meant to stop banks from trading with their...
Derivatives regulation currently being drafted by regulators and a tougher Volcker rule will be enough to prevent other banks from suffering losses similar to J.P. M...
JPMorgan Chase & Co (NYSE:JPM) Chief Executive Jamie Dimon has agreed to testify before Congress over the bank's recent trading losses, which have ignited a politica...
Rep. David Schweikert, (R-Ariz.), on J.P. Morgan’s losses sparking calls to increase regulations on banks.
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