Relevant:
- Banks Already Moving to Evade Volcker Rule
- Did The Obama Administration Do ANY Homework Before Announcing The Volcker Rule?
- Volcker: Regulators Can't Be Trusted To Act
- Volcker Said to Be Disappointed With Final Version of His Rule
- Paul Ryan Appears to Endorse Volcker Rule, Other Reforms He Usually Opposes
2008-11-18 — creditwritedowns.com
Mr. Volcker's last statements should be seen as a shot across the bow of financial firms in America. The Obama Administration is going to look askance at excessive compensation and will certainly look to regulation if necessary to amend Wall Street's profligate ways. In essence, Volcker has said the Wall Street bonus system bears a large measure of the blame for the present crisis.
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