Did anyone catch the Volcker hearing in front of the Senate Banking Committee today? I think the senate rocked that hearing asking the questions that most people were waiting to hear.
Bob Corker was the man and made clear the fire walls that are already present that prevent commercial deposits being used for proprietary, and mark johannes made clear that this rule would not have prevented the crisis if it was in effect pre-crisis.
IMO,was not involved in the crisis, so is this policy or politics? and I have a couple of friends in for / , how does this affect them if banks can't invest in hf/pe?