The Volcker Rule could have unforeseen consequences, but it's needed to protect consumers and the economy from banks making "wild flyer bets that are just for the house," outgoing CFTC Commissioner Bart Chilton told CNBC before casting his vote.
The "London Whale" risky trades involving JPMorgan is not going to spell the end of big American banks, according to Paul Volcker, former chairman of the U.S. Federal Reserve.
In a rare interview, former Fed Chairman Paul Volcker told CNBC his namesake rule has already changed how Wall Street does business, despite delays in crafting the final wording.
Bloomberg reports that the fight over the Volcker rule is shifting in Wall Street’s favor.
Here a few interesting links to some Bloomberg, CNBC, New York Post and Thomson Reuters stories that are currently doing the rounds.