Volcker Rules Face Fire From Dodd, Bank Execs

Law360, New York (February 4, 2010, 7:04 PM EST) -- Senate Banking Committee chairman Christopher Dodd, D-Conn., expressed doubts Thursday that his fellow legislators could write “ironclad” rules to limit proprietary trading and speculative activities in commercial banks, while executives from major financial institutions opposed the plan.

Dodd presided over a hearing before the committee, where lawmakers heard testimony from finance executives and academics on the so-called Volcker rules, which would curtail the proprietary trading activities of commercial banks, restrict their ownership of hedge and other private equity funds, and limit their size based on liabilities....
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