Peter asks former chairman of the Federal Reserve, Paul Volcker, how he can support the stimulus if he thinks we're too in debt.

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The Volcker Rule would forbid banks from making bets on their own money, and former Fed chief Paul Volcker has fired back at critics of the proposed that bears his name. Dan Ryan of PricewaterhouseCoopers' Financial Services Advisory Practice stops by Mean Street to discuss.

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This refers to a specific section of the Dodd-Frank Wall Street Reform and Consumer Protection Act originally proposed by American economist and former United States Federal Reserve Chairman Paul Volcker to restrict United States banks from making certain kinds of speculative investments that do not benefit their customers. Volcker argues that such speculative activity plays an active role in promoting the type of leverage and risk taking that contributed directly to the 2008 financial crisis. The rule is often compared to Glass-Steagall, in that it attempts to create a firewall between investment banking and retail banking. However, it also bans proprietary trading by commercial banks whereby customer deposits are used to trade on the bank's personal accounts. The rule's provisions are scheduled to be implemented as a part of Dodd-Frank on July 21, 2012.

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Wall Street banks are fighting the 'Volcker Rule'. The Young Turks host Cenk Uygur breaks down their absurd excuses. www.businessweek.com www.huffingtonpost.com Subscribe to The Young Turks: bit.ly Find out how to watch The Young Turks on Current by clicking here: www.current.com The Largest Online New Show in the World. Google+: www.gplus.to Facebook: www.facebook.com Twitter: twitter.com

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Peter asks former chairman of the Federal Reserve, Paul Volcker, how he can support the stimulus if he thinks we're too in debt.

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Paul Volcker - Former Chairman of the Federal Reserve Questioned - Epic Fail .......................................................................................................... IF YOU LIKE MY CHANNEL Please Go To here www.godlikeproductions.com It Is the One Of The Largest...

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Roger Altman tells Reuters Digital Editor Chrystia Freeland that the Volcker Rule requires firms and regulators to make "impossible" judgments. Part 4. (April 23, 2012)

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Breakingviews columnists discuss Paul Volcker's letter to the Fed commenting on his eponymous rule.

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Allan Meltzer & Paul Volcker are asked about Ron Paul's Audit the Fed bill

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While there is a lot of focus on what the Volcker Rule prohibits banking entities from doing, it does permit a number of activities such as market making, underwriting, engaging in risk-reducing hedging and transacting in government trading. It is also a challenge to the status quo, which may highlight merger and acquisition (M&A) opportunities in the financial services industry. In the latest episode of Deloitte Insights, Deloitte & Touche LLP's Kim Olson, principal, Jason Langan, partner, and Sean O'Grady, moderator, discuss the restrictions as well as opportunities associated with the Volcker Rule. Tune in to learn more.

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Occupy the SEC exposes how Wall Street is using "regulatory arbitrage" to break the Volcker Rule www.brotherjohnf.com Volcker Rule en.wikipedia.org CSPAN Rep Paul Kanjorski Reviews the Bailout Situation www.youtube.com

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Reuters' Felix Salmon talks financial regulatory reform with Occupy's banking whiz kids, authors of a 325-page comment letter on the Volcker Rule.

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Assistant editorial page editor James Freeman on what the Volcker rule would do and whether it could have prevented JP Morgan's $2 billion trading loss. Photo: Getty Images.

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Feb. 9 (Bloomberg Law) -- Scott Cammarn, special counsel at Cadwalader Wickersham & Taft LLP, talks with Bloomberg Law's Lee Pacchia about how the Volcker Rule would affect the global banking system. Scott explains that foreign banks doing business in the United States would be subject to the Volcker Rule and could force them to move their operations offshore. The Volcker Rule is a section in the Dodd-Frank Act prohibiting banks from engaging in speculative investments.

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democracynow.org - The latest off-shoot of the Occupy Wall Street movement — Occupy the SEC — has submitted a 325-page comment to the Securities and Exchange Commission that calls on regulators to resist the financial industry's lobbying efforts to water down the Volcker Rule, a section in the Dodd--Frank Wall Street Reform and Consumer Protection Act, that aims to prevent large banks from making certain kinds of risky, speculative investments. The group is made up of former Wall Street professionals who once worked at many of the largest financial firms in the industry. We're joined by Alexis Goldstein, who worked as a computer programmer for seven years at Morgan Stanley, Merrill Lynch and Deutsche Bank. She left Wall Street in 2010 and joined the Occupy Wall Street soon after the encampment began. "Banks should not behave like a hedge fund," Goldstein says. "Hedge funds are there to make money and take risky bets and their clients tend to be these really wealthy clients. And the Volcker Rule says: well wait a minute, these big banks that enjoy this government support shouldn't be in that business." Towatch the complete daily, independent news hour, read the transcript, download the podcast, and for additional Democracy Now! reports about Occupy Wall Street, visit www.democracynow.org FOLLOW DEMOCRACY NOW! ONLINE Facebook: www.facebook.com Twitter: @democracynow Subscribe on YouTube: www.youtube.com Listen on SoundCloud: www.soundcloud.com Daily Email News Digest: www <b>...</b>

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Senator Crapo describes an amendment he introduced, along with Senators Warner, Toomey, Carper, Hagan and Corker, to provide for the implementation of the Volcker rule after the agencies have issued their final rules, rather than tow years after the date Dodd-Frank was signed into law.

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Follow us @ twitter.com twitter.com Well-known analyst Merideth Whitney says the middle class is being "De-Banked" in her view, due to new regulations that go "too far in the other direction" in regulating wall street. But is this really true, or do the new regulations just punish the little guys or the yet-to-be (and maybe never become-at-all financial start-ups) financial services firms at the expense of the big boys on wall street? And speaking of the big boys of wall street, how exactly have they been doing on the latest piece of regulation meant to end proprietary trading by these firms from destabilizing the global financial markets and the global economy? We speak, of course, about the Volker Rule, which is Washington's attempt to "roll back" some of risky practices embraced by wall-street after the end of Glass-Steagal in the late 90's. Now, this is just one piece of regulation, but it is a start in a long battle to protect the vast majority of economic participants from having the reckless behavior and risky positions of these too-big-to-fail banks from destroying their financial futures. We speak to two members of "Occupy the SEC" - Alexis Goldstein and Caitlin Kline -- who have been working hard to protect you and me from the watering-down efforts that go on behind closed doors once bills have been passed and move back to the agencies to get "fleshed out." We will ask them about the market-making loopholes (remember, Lloyd Blankfein used this excuse when <b>...</b>

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New York, February 13th 2012--At a pre-march rally in Liberty Plaza, Aaron Bornstein and Alexis Goldstein of Occupy SEC explain why it's necessary to enforce the Volcker Rule to separate investment banks from retail banks. This morning Occupy SEC delivered a 325-page document with suggestions for closing the loopholes which enable banks to evade the provisions of the Volcker Rule. The march made a loop around the Federal Reserve Bldg which takes up a whole block on Maiden Lane, stopping for a mic check and speak out before heading west to the SEC building. For an update on the SEC's response to Occupy's comments, see www.occupythesec.org, For a review of the 325-page Volcker comment letter, see http Background note courtesy the BBC: Glass-Steagall A US law dating from the 1930s Great Depression that separated ordinary commercial banking from investment banking. Like the UK's planned ring-fence, the law was intended to protect banks which lend to consumers and businesses - deemed vital to the US economy - from the risky speculation of investment banks. The law was repealed in 1999, largely to enable the creation of the banking giant Citigroup - a move that many commentators say was a contributing factor to the 2008 financial crisis.

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Follow us @ twitter.com twitter.com As Europe confronts the potential of recession and the contagion of a banking flue, the prime piece of regulation being touted in the US known as "the Volcker Rule," which is supposed to stop banks from proprietary trading, or trading for their own accounts with customer money, is being fought tooth an nail by not just US banks but foreign ones too. According to critics including members of Occupy the SEC, there are many ways banks can get around the spirit of the law because of loopholes in the several-hundred-page rule proposal. Nonetheless Wall Street has been lobbying against the rule throughout the process. And some foreign governments have recently been coming out against it. In an editorial in the Financial Times, the finance ministers of Britain and Japan write, "both our governments have expressed concerns about the "Volcker Rule". They cite "unintended consequences," and one they name is this: "there is an exemption for trading in US government securities but not other sovereigns, so it could reduce liquidity in non-US sovereign markets, making it more difficult, costlier and riskier for countries to issue and distribute debt." Now regarding that argument itself, Paul Volcker wrote in the Financial Times it's basically a joke, saying banks in Europe, Japan, and Canada should be able to pick up the slack. But why have these foreign governments joined US banks in the fight against the Volcker Rule now? Well take a look at these <b>...</b>

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Oct. 31 - MF Global's bankruptcy filing reinforces the idea that proprietary trading belongs where its damage to the system can be limited, says Reuters Breakingviews.

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Former Fed chief Paul Volcker keynote speech at the second annual summit of the Stanford Institute for Economic Policy Research, Feb 2005.

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Douglas Landy, banking partner at Allen & Overy, discusses his concerns about the Volcker Rule.

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What exactly is the Volcker rule? Reuters' Felix Salmon breaks down this hefty piece of legislation. Hear what he says now!

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Al Jazeera English's Newshour cited campaign contribution data from the Sunlight Foundation's InfluenceExplorer.com during a May 15 report.

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