Volcker Launches Broad Defense Of Eponymous Rule

Law360, New York (February 13, 2012, 4:18 PM EST) -- Former Federal Reserve Chairman Paul A. Volcker on Monday launched a broad defense of proposed restrictions bearing his name on banks' proprietary trading activities on the last day for parties to comment on the rule.

In a comment letter to the agencies charged with designing and implementing the so-called Volcker Rule, the former Fed chairman blasted critics of the ban on proprietary trading by federally insured banks who say that such activities do not create a risk to the broader economy and that such a rule...
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