Fed governor explains dissenting vote on Volcker Rule implementation
Sarah Raskin, a member of the Federal Reserve Board, on July 13 explained the reasons for her vote against the proposed implementation of the Volcker Rule, which bans proprietary trading but allows exceptions for hedging and market-making.
Delivering a speech to the Graduate School of Banking at Colorado, Raskin said she had been concerned that the rule's "guard rails" were too broad. "The guard rails as crafted could be subject to significant abuse – abuse that would be very hard for even the
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