Volcker

Paul Volcker, chairman of the Economic Recovery Advisory Board for President Barack Obama, is set to step down from the position next month. As a key adviser to the president, Volcker has advocated for tougher financial regulations and counseled the government on fiscal policy.

Investment banks are working around new regulations restricting them from putting their own capital into short-term investments: The Wall Street institutions are sidestepping the Volcker Rule by making direct purchases of securities, companies and properties, which are considered longer-term investments.

Banking giant Goldman Sachs is reportedly planning to spin off its proprietary trading unit due to concerns over compliance with the Volcker rule contained in recently passed financial reform legislation.

Ben Bernanke urged lawmakers Wednesday not to strip the Fed of key oversight functions as part of a wider regulatory overhaul, arguing it would deprive the central bank of key information needed to formulate monetary policy and steer the financial system in times of calamity.

Former Federal Reserve Chairman defended President Obama's proposals to bar commercial banks from owning risky investment vehicles or engaging in speculative trading on their own accounts in testimony before the Senate Banking Committee Tuesday.

Former Fed Chairman Paul Volcker's won a major battle in his crusade for banking reform when President Obama announced his support for Volcker's plan to restrict the size and activities of the largest U.S. financial institutions.

Bank of England Governor Mervyn King won the fight in Britain to break up the banks that were "too big to fail." Now the big question is: Will Paul Volcker (pictured) get the Obama administration to follow suit? King got a lot of help from European regulators, who called for more and smaller banks...

The federal government could soon have the right to seize control of troubled financials institutions that are deemed "too big to fail," fire their top executives, wipe out shareholders and rewrite the institution's loan agreements. These are among the provisions in a new bill that Representative...

How can the U.S. solve its systemic banking issues? If you're former Federal Reserve Chairman Paul Volcker (pictured) or Bank of England Governor Mervyn King, your answer would be: Let's split up the banks. Volcker would like to see some form of a Glass-Steagall-like bill passed to reconstruct the...

While President Obama has pledged that he won't raise taxes on families earning less than $250,000, his advisers are beginning to realize this won't be possible without vastly increasing taxes on the wealthiest -- to a top income tax rate of about 70 percent. That won't exactly fly, so what else...