This proposal is no minor set of technical tweaks to the Volcker Rule, but an attempt to unravel fundamental elements of the response to the 2008 financial crisis, when banks financed their gambling with taxpayer-insured deposits. If implemented, these proposals could turn the Volcker Rule into a dead letter, a regulation that would not meaningfully restrict trading activities.
Fund backed by physical copper “effectively creates a corner on the market,” AFR’s Marcus Stanley tells The New Republic.
Americans for Financial Reform hosted a conference call for reporters and bloggers to discuss the impact of Wall Street speculation on gas prices.
Americans for Financial Reform will host a conference call for reporters and bloggers on Today at 12:00 PM EDT to discuss the impact of Wall Street speculation on gas prices. Wall Street gambling is driving up gas prices and putting a strain on the economic recovery and the pocket-books of working families and the middle class.
Read a summary of the release and press coverage of our report with Robert Pollin and James Heintz, “How Wall Street Speculation is Driving Up Gas Prices Today” here.