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Member since: Sat Jan 5, 2013, 02:17 PM
Number of posts: 733

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useful 2014 phrase: pull a christie

definition: arbitrary vindictive chickenshit

NYT on Volker Rule: loopholes, I don't understand

Peter Eavis's article in the NYT on the Volker Rule contains many interesting bits about the loopholes available to banks.

I don't know anything about banking, but one quote from a director at Deloitte & Touche is about whether banks should be making trades for themselves as well as customers.

The director seems to be saying that the banks don't have an easy way to separate their trades from customers. Here's the quote.

"You could have a trading blotter that contains thousands of trades a day, and figuring out what goes with what could be difficult."

Does this mean that presently banks put everybody's trades in a pot and then allocates what they "think" is the right amounts to all?

Please explain.


Politifact is having vote-in for worst lie of the year. Go vote.

byw, I did a write-in vote for all the anti-ACA lies to be bundled together to get a special award. Six of the 10 finalists are anti-ACA lies.
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