Corker commentary: Volcker rule loophole is unfair

02/13/2012 | Politico (Washington, D.C.)

Sen. Bob Corker, R-Tenn., argues that the proposed exemption for government bonds from the Volcker rule is particularly ironic. "The true motivation here is as obvious as it is duplicitous," Corker writes. "Treasury and the [Federal Reserve], which collectively rely on primary dealers and traders to buy the bonds they issue, knew that if the regulation applied to Treasury securities, it would lead to higher borrowing rates for the government."

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