The Volcker Rule’s Major Miss & Kim Kardashian’s Bikini Bod


sentinelblog

Source:Nomi Prins

Something isn’t always better than nothing. (This piece originally appeared at Truthdig. Also, hat-tip to Pam Martens at www.wallstreetonparade.)

The subject of heated debate in financial circles, the Volcker Rule, which was originally passed as part of the 2010 Dodd–Frank Wall Street Reform and Consumer Protection Act, was finally approved by regulators. It will begin taking effect in April 2014 with full compliance required by July 2015. They say the devil is in the details. Regarding the Volcker Rule, the devil is in the details of its abundant exemptions. These include a laundry list of practices and businesses that mega-banks have performed under one roof, since the 1999 repeal of Glass-Steagall, as well as the myriad perks they won along the way to that power-consolidating event.

The Volcker Rule in its current form ostensibly focuses on mitigating the “excessive” risk of proprietary trading at banks (which…

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