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Wake Up the Banking Police
The New York Times: The Volcker Rule has landed. Will the United States financial system be safer and sounder as a result?
That’s the goal, after all, of the almost 1,000-page document approved by banking, securities and commodities regulators last week. Years in the making, the rule is supposed to reduce the risks that a major bank will have to be rescued by taxpayers if some of its bets go bad.
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