Volcker rule

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. 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

• Economic Recovery Advisory Board
• financial crisis of 2007–2010
• Paul Volcker