Volcker Trading Rule Faces Tough Battle In Senate

Law360, New York (February 2, 2010, 5:20 PM EST) -- U.S. Senate Banking Committee chairman Christopher Dodd, D-Conn., said Tuesday that, while he supported proposed limits on proprietary trading and speculative activities in commercial banks, he was uncertain that such a measure will make it into his committee's final financial regulatory reform bill.

Dodd's statement came during a Senate Banking hearing designed to examine the so-called Volcker rule, unveiled Jan. 21 by President Barack Obama and President's Economic Recovery Advisory Board chairman and former Federal Reserve chief Paul Volcker, which would prohibit commercial banks from engaging...
To view the full article, register now.