Volcker unhappy with watered down rule: reports

paulvolcker

Paul Volcker, a former chairman of the Federal Reserve and the author of the eponymous rule, is thought to be unhappy with the compromise lawmakers have struck on banks' investments in hedge funds.

Reuters, a news wire, reported on Wednesday that a source close to Volcker said he was unhappy with the dilution of his original proposal on banks' ownership of or investment in hedge funds. Lawmakers have kept Volcker's name, but significantly amended one of his two proposals in order to secure the b

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