Volcker rule and Volcker Rule: Difference between pages
(Difference between pages)
Boyd Reimer (talk | contribs) I changed the Redirect to an article. I provided referenced information. This is a start. I welcome suggestions and improvements. |
Boyd Reimer (talk | contribs) This is a start. I welcome suggestions. (Rule is capitalized in the press articles) |
(No difference)
| |
Revision as of 22:34, 14 February 2010
The Volcker Rule (also known as the "Volcker Plan") is, at its heart, a proposal by US economist Paul Volcker to restrict banks from making speculative investments that do not benefit their customers.[1] Volcker has argued that such speculative activity played a key role in the financial crisis of 2007–2010.
The Volcker Rule was first publicly endorsed by President Obama on January 21, 2010. The Obama administration also wants to limit the ability of the largest banks to use borrowed money to fund expansion plans.
Volcker was earlier appointed by Obama as the chair of US President Barack Obama's Economic Recovery Advisory Board, a board created on February 6, 2009. The Volcker Rule remains an unimplemented proposal.
See also
References
- ^ David Cho, and Binyamin Appelbaum (January 22). "Obama's 'Volcker Rule' shifts power away from Geithner". The Washington Post. Retrieved 13 February 2010.
{{cite web}}: Check date values in:|date=(help)