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John Parsons Demolishes the Big Myth Behind Volcker Rule Attacks

John Parsons, a senior lecturer at the Massachusetts Institute of Technology, shows how it is easy to discern what exactly is a “proprietary trade” or not. Parsons digs into 10ks and annual reports to show specific examples of how energy firms such as Exelon and E.On firms break out proprietary trading into quantifiable results. If this major energy firms can do this work, so can the big banks, Parson writes. They should stop lobbying against the ban on such trades, more commonly known as the Volcker Rule.