Old Man Volcker Gets Hit By Football In Groin

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Let's start calling developments in the Senate "anti-news," right? In fact someone should just write the history of every future legislative proposal now, and patent it: "A proposal by former Federal Reserve Chairman Paul Volcker to limit bank’s proprietary trading will be either be dropped or significantly modified in the Senate, lawmakers and staffers told dealReporter."

Because Republicans started using their List of Magical Death Words immediately and dumb Chris Dodd wants to retire on a note of "bipartisanship." Appreciate the sacrifice, Chris. Unimportant tooth monster Mark Warner, meanwhile, thinks that capital requirement language in the House bill would render Volcker's proposal superfluous, and so should it be killed, along with the capital requirement language in the House bill.

IT WORKS ON SO MANY LEVELS!

[Financial Times]

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