Volcker

Volcker to Resign From Economic Recovery Advisory Board

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 Exploit Volcker Rule Loophole

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.

Bernanke Defends the Fed's Turf

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.

Volcker Urges Lawmakers to End Era of 'Too Big to Fail'

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.

Volcker Is New Voice of Banking Reform

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