Paul Volcker rejected the argument from banks that regulators would have a difficult time cracking down on speculative trading. Banks have raised concerns that client trading activity might look like proprietary trading to regulators. The Volcker rule is meant to bar banks from proprietary trading. "Bankers know when they're doing a proprietary trade, I assure you," Volcker said. "If they don't know, they shouldn't be in the business."
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