Tag Archives: Volcker Rule

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AFR In the News: Regulators Advance Volcker Rule

Ben Protess (DealBook/NYT)
October 11, 2011

“Unfortunately, this initial proposal does not deliver on the promise of the Volcker Rule or the requirements of the statute,” said Marcus Stanley, policy director of American for Financial Reform, an advocacy group. …“The vagueness of the proposal, and the hundreds of questions it includes, also demonstrate that we are still in the middle of this process,” said Mr. Stanley. “It’s important to use this opportunity to strengthen the rule – and to prevent Wall Street lobbyists from weakening it still further.”

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AFR Press Statement: Volcker Rule

“The Volcker Rule, with its clear ban on both proprietary trading and conflicts of interest, is one of the short list of places where the Dodd-Frank Act imposes an outright ban on Wall Street practices central to the financial crisis. Unfortunately, the proposal issued today falls well short of what the Volcker Rule could and should achieve. It is too weighted toward preserving bank freedom of action, rather than creating the changes in bank practice and culture required by the statute,” said Lisa Donner, executive director of Americans for Financial Reform. “We strongly urge major improvements in the final rule. The serious and widespread economic pain caused by the failures of our financial system, and the growing expressions of public outrage – with more and more people taking to the streets –help make it clear how important it is to get this right,” she added.

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AFR in the News: How Lobbyists Are Undermining Dodd-Frank: A Case Study

Darius Tahir (The New Republic)
October 6, 2011

As Marcus Stanley of Americans for Financial Reform told me, all sorts of people rely on predictable commodity markets for their business: gas stations, businesses that supply heating oil, enterprises that order food in bulk such as confectioners, and so on. Higher volatility often ends up being passed on to businesses as a higher cost on their balance sheet, with predictable consequences

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AFR in The News – The Push to Pull the Teeth out of Dodd-Frank

The current economic turbulence is a direct result of insufficient regulation — so it makes no sense to curb pending rules that would address the causes of the crisis, says Lisa Donner, executive director of Americans for Financial Reform, a coalition of labor, civil rights, community, and small business groups. “The thought that what we need to get the economy going again is to cut back on regulation is astoundingly backwards,” she says, noting that recent polls suggest businesses are struggling with economic conditions, not overregulation.”