Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

No change: Wall Street finds loophole in financial reform

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Reuters
Nov 12, 2010

NEW YORK — US banks have found a way to continue betting their own money on some investments, despite a new law’s restrictions on proprietary trading, the Financial Times reported on Thursday, citing Wall Street executives.

The “Volcker rule” provision of the Dodd-Frank financial reform limits the extent to which banks can bet with their own capital, banning them from short-term trading of securities for their own accounts. Firms including Goldman Sachs Group Inc and Morgan Stanley are closing or slimming down some of their units in order to comply with the law.

But the Volcker rule does not apply to banks’ “principal investments,” or longer-term direct purchases of securities, companies and property assets, the Financial Times said. Such deals drove big profits for banks before the financial crisis, but turned into a main source of losses for Wall Street firms like the now-defunct Lehman Brothers Holdings Inc, the paper said.

Full article here

Having A Supply Of Healthy Foods That Last Just Makes Sense (AD)

No change: Wall Street finds loophole in financial reform 140910banner5

This article was posted: Friday, November 12, 2010 at 10:13 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
The Truth About U.S. Air Strikes on Syria With Syrian Girl See the rest on the Alex Jones YouTube channel.

Mysterious Georgia Guidestones Get Strange '2014' Update See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.