wall street

Why Regulators Delayed the Volcker Rule

Federal regulators announced Thursday that final implementation of the Volcker Rule will be delayed two years beyond the nominal deadline this July. The delay is a win for banks that were struggling to adjust to the looming restriction on their ability to make money through market trading as opposed to the more traditional, less …

The Trader’s View On Derivatives Reform

Wallace C. Tubeville, a former Goldman Sachs VP and former CEO of derivative broker VMAC, has done us all a service. In a post on New Deal 2.0, he lays out the over-the-counter derivative trader’s view of why financial reform is a bad thing.

A level playing field is anathema to the trader. Successful traders must have advantages over …

Re: More Bad News For Big Banks

Stephen Gandel over at the Curious Capitalist has some more context and analysis on the SEC action against Goldman.

Of political import:

The first question was who was damaged here. The answer is all of us. First of all, the investors who bought the securities lost about $50 billion on them. Those investors were mostly pension funds. …

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