Thursday, December 12, 2013

A Big Balloon

I don't see anything here that is going to harm the basic investment processes in the economy.  Before the crisis we had lots of trading, lots of liquidity. ...  What happened?  We had a big balloon.

-- Former Fed Chairman Paul Volcker, on the so-called Volcker Rule, a provision of the 2010 Dodd-Frank Act, adopted this week by the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, Commodity Futures Trading Commission, Federal Reserve Bank, and the Securities and Exchange Commission, 11 December 2013

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