Bank Execs to Testify on Newly Proposed Regulations
More scrutiny of President Obama’s proposed bank regulations coming this week. Not only will Paul Volcker, chairman of the White House Economic Recovery
Jul 31, 20203.8K Shares641.4K Views
More scrutiny of President Obama’s proposedbank regulations coming this week. Not only will Paul Volcker, chairman of the White House Economic Recovery Advisory Board, be testifying tomorrow before the Senate Banking Committee, but another hearing featuring Wall Street executives has been scheduled for Thursday, the committee just announced.
Volcker, of course, will be defendingthe proposed regulations, which would limit both the size and the trading activities of Wall Street’s largest firms. (After all, he wrote them.) Don’t expect the same enthusiasm from Gerald Corrigan, managing director of Goldman Sachs, or Barry Zubrow, executive vice president of JPMorgan.
The question remains: Can the Democrats pass tighter restrictions on the nation’s banks — a long-term strategy designed to prevent another Wall Street collapse — even as they’re pushing short-term fixes to stimulate the ailing economy?
Hajra Shannon
Reviewer
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