Happy New Year, Wall Street: Congress Has Another Gift For You

Posted on AllSides January 7th, 2015
From The Left

After stuffing Wall Street's stockings in December with subsidies for risky trading, the House of Representatives plans to wish big banks a happy New Year on Wednesday by hacking up and delaying the Volcker Rule.

The Volcker Rule is a key reform adopted after the 2008 financial meltdown that bans banks from gambling in securities markets with taxpayer money -- a tactic known as proprietary trading. But under legislation slated for a Wednesday vote, banks would be given a two-year reprieve from unloading some of their riskiest holdings -- known...

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http://www.huffingtonpost.com/2015/01/06/congress-volcker-rule_n_6426158.html

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