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Volcker Rule Passed By All 5 Regulators

Tyler Durden's picture





 

All five regulatory agencies put to a vote and approved the Volcker rule on Tuesday, supposedly, as The WSJ reports, ushering in a new era of tough oversight that drills to the core of Wall Street's profitable markets and trading businesses. As President Obama just ordered via Bloomberg:

  • OBAMA SAYS VOLCKER RULE WILL MAKE FINANCIAL SYSTEM SAFER

Of course, now the various regulators line up at the trough demanding more funding to cover all the details of all the pages of all the new laws that all of the banks will now have to address on all of their trades...

 


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Tue, 12/10/2013 - 15:21 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

You are like your plan, you can is keep your plan.

Tue, 12/10/2013 - 15:24 | Link to Comment RSloane
RSloane's picture

+1 That is a lot more coherent than any message coming out of the White House.

Tue, 12/10/2013 - 15:33 | Link to Comment Mark Carney
Mark Carney's picture
  • OBAMA SAYS VOLCKER RULE WILL MAKE FINANCIAL SYSTEM SAFER

I believe you, sir.

Tue, 12/10/2013 - 15:20 | Link to Comment ejmoosa
ejmoosa's picture

  • OBAMA SAYS VOLCKER RULE WILL MAKE FINANCIAL SYSTEM SAFER"

 

 

Well, then expect all hell to break lose.

Tue, 12/10/2013 - 15:24 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

Obvious USSA President Barry Soetoro is progress from crack cocaine to crystal meth. Only question to remaining is why citizenry allow drug up trash still in White House... 

Tue, 12/10/2013 - 15:21 | Link to Comment ebworthen
ebworthen's picture

More lawyers, more .gov Mandarins, more Billion dollar fines that will come out of consumer's hides, no one in jail, more appearances of a rule-of-law with no rule-of-law.

I'm off to the Coliseum to see the lions eat some Christians, tell Flavius they're giving out a whole grain loaf.

Tue, 12/10/2013 - 15:24 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

You are make smart funny reference of fall of Roman Empire, "Bread and Circus". What is next move?

Tue, 12/10/2013 - 16:59 | Link to Comment HungryPorkChop
HungryPorkChop's picture

SNAP Cards, Cell Phones and cable TV = Bread and Circus in 2013

 

Tell me again about the whole loaf of bread they're giving away at the colesium?  It just sounds wonderful.

Tue, 12/10/2013 - 17:27 | Link to Comment nwowatcher911
nwowatcher911's picture

Next move is global currency reset... IMF already has 204 members saying GO within 90 days.

Tue, 12/10/2013 - 18:07 | Link to Comment Buzz Hacksaw
Buzz Hacksaw's picture

" more Billion dollar fines". Just where do these fines end up? I'm pretty sure about who is ultimatly paying them. This a freeking free for all.

Tue, 12/10/2013 - 20:30 | Link to Comment fxrxexexdxoxmx
fxrxexexdxoxmx's picture

How come they always eat Christians? Are the of the other religions to greasy to eat?

Tue, 12/10/2013 - 15:22 | Link to Comment Doubleth1nker
Doubleth1nker's picture

All the fanfare over a watered-down rule that will never be enforced.  You know the only real deterrent these crooks understand is jail time.  All these agencies and no prosecutions.  Complete fail.

Tue, 12/10/2013 - 15:28 | Link to Comment ejmoosa
ejmoosa's picture

You are mistaken.  It will only be enforced against those entities that do not cooperate with the states's plan.

Tue, 12/10/2013 - 15:40 | Link to Comment Dr Benway
Dr Benway's picture

Exactly. That's the only thing that actually will deter, being thrown in jail. They can make a million laws, but as long as they are not applied, its all a charade.

Personally I'm interested in how this will affect American banks that provide support and leverage for criminal Australian listed investment companies (defined as hedge funds?).

For example, Merrill Lynch provides leverage and services for the ramped Magellan Flagship Fund (MFF.AX).

Tue, 12/10/2013 - 15:21 | Link to Comment Colonel Klink
Colonel Klink's picture

If all 5 members voted to approve it, it means it will do absolutely nothing to stop the LOOTING!

And you can take that to....errr...the bank.

Tue, 12/10/2013 - 15:28 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

Meeting is convene in den of fox. Should guard hen house or loot and rape? Vote is anonymous.

Tue, 12/10/2013 - 15:36 | Link to Comment TrustWho
TrustWho's picture

Talk about a F-ing head fake for the sheeple, this makes me so F-ing mad. Quit passing meaningless regulations and put the crony players in jail. Since politicians will not throw themselves in jail, at least throw the counter-party--BANKSTERS--in jail. If the American court system was worthy of the Blind Lady Justice, a few heads would fix the problem quickly without juicing the lawyer market. What a F-ing mess.

F$%^ Bernanke!

Tue, 12/10/2013 - 15:40 | Link to Comment realitybiter
realitybiter's picture

If you like your doctor you can keep them

 

If you like your insurance plan you can keep it

 

We do not spy on US citizens

 

your insurance premiums will drop with the ACA

and, the VOlker rule will make you safer

 

feel better?

Tue, 12/10/2013 - 17:49 | Link to Comment HungryPorkChop
HungryPorkChop's picture

Finally I'll be able to sleep at night.  What a Wonderful Life to know the banks are looking out for us little guys. 

Tue, 12/10/2013 - 15:52 | Link to Comment Marley
Marley's picture

Financials don't kill people.  People kill people with financial products and/or demands on returns.

Loved MoneyMarket's declaration that the US people have forgiven banks for 2008 melt down.  Really funny unless you consider the number of people around the world killed by these sociopathic institutions, oh excuse me, people.

http://wiki.answers.com/Q/How_do_you_know_if_someone_is_a_sociopath

 

Tue, 12/10/2013 - 15:46 | Link to Comment asscannon101
asscannon101's picture

Oh, well then! I mean- what the fuck- if Obomba said it then, well, you can take that shit to the bank! I mean, 'If you like your current health insurance plan, then you can keep it', right?

Tue, 12/10/2013 - 15:54 | Link to Comment Withdrawn Sanction
Withdrawn Sanction's picture

OBAMA SAYS VOLCKER RULE WILL MAKE FINANCIAL SYSTEM SAFER

Now you KNOW it's untrue.  How does he know what it will do?  He's too busy mugging for selfies w/other so-called "dignitaries" at a state funeral.  Knowledge and dignity are not in the man's vocabulary and thus neither is honesty.

Were he to prosecute just one big fish from the TBTFs, then there might be some reason to take his word for it.  Untill then, he should just shut up.  

Tue, 12/10/2013 - 15:55 | Link to Comment PrecipiceWatching
PrecipiceWatching's picture

These criminal Collectivists will pay as much attention to ANY rule involving fiscal sanity and responsibility, as they do to the US Constitution.

 

After all, their alleged Opposition is completey ball-less, if not wholly in league with their self-serving machinations.

Tue, 12/10/2013 - 16:35 | Link to Comment AreaMan
AreaMan's picture

Thank goodness thats sorted out... now i can watch my football in peace.

Tue, 12/10/2013 - 17:34 | Link to Comment Ms. Erable
Ms. Erable's picture

'Regulatory agencies' enforcing 'rules'?

ROFLMMFAO.

Tue, 12/10/2013 - 18:03 | Link to Comment Dre4dwolf
Dre4dwolf's picture

Exactly, this "rule" is just a smoke-screen.

Gold Silver for the future and why the fuck not... Bitcoins just to protest.

Tue, 12/10/2013 - 17:35 | Link to Comment 0b1knob
0b1knob's picture

"All five regulatory agencies put to a vote and approved the Volcker rule on Tuesday"

When does Congress vote?

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