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Scope Loophole

FACT SHEET: The Key Changes that Seriously Weaken the Volcker Rule Detailed Here

It is not correct that recent changes to the Volcker Rule are “tweaks,” “nips,” “symbolic,” or otherwise insubstantial.  It is also not correct that these changes merely “clarify,” “simplify” or “streamline” the prior rule.  The changes are substantial, material, and consequential.  They will enable and almost certainly result in significantly increased speculative trading by Wall Street’s biggest taxpayer-backed banks.  After all, Wall Street did not spend enormous effort and money for more than nine years for changes that would not deliver them this outcome, their biggest victory since th