There’s a lot of nonsense and misleading information floating about regarding financial reform or finregs. Yes, all the things the headlines feature are in the bill, but in name only since they’ve watered down substantially. If not, why is the leading sector in markets today KBE (KBW Bank Index ETF)? Just because the uncertainty is removed? Hardly. Sure, for the banksters they can go about their business with little concern. Hell, Chris Dodd will probably be on the board on Citigroup in short order.
The Volcker Rule in its purest form requires banks and brokers to be separated. In a milder form, it restricts proprietary trading with the public’s funds. Since the FDIC guarantees deposits this means Uncle Sugar has been there to back-up stupid mistakes—that pesky.....READ MORE!
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