Click here to view this week’s highlights and lowlights in Wall Street Reform – January 28, 2012 – February 3, 2012.

Click here to view this week’s highlights and lowlights in Wall Street Reform – January 21, 2012 – January 27, 2012.

“‘It is specious to the point of misleading to suggest that the needs for liquidity currently provided by banks will not be filled,’ Wallace Turbeville, who represented Americans for Financial Reform, a nonprofit group that favors new restrictions on Wall Street risk-taking, told a Congressional committee this month.”

“Consumer groups and supporters of the rule have leaned on regulators to stick to the implementation timeline and pushed back against assertions that the rule will damage capital markets. The arguments from financial firms ‘are all founded on the irrational assumption that, once bank proprietary trading ceases under the Volcker Rule, others will not expand to meet demand,’ Wallace C. Turbeville, a former Goldman Sachs banker, said in testimony prepared for the hearing on behalf of Americans for Financial Reform, an umbrella organization made up of consumer groups, labor unions and civil rights law firms.”

“However, a representative of the group Americans for Financial Reform argued the Volcker Rule is a vital safeguard for the financial system, ensuring that American taxpayers no longer effectively guarantee risky trading done by insured depository institutions.”

Click here to view this week’s highlights and lowlights in Wall Street Reform – January 14, 2012 – January 20, 2012.