Volcker says namesake rule is reshaping Wall Street

11/29/2012 | CNBC

Although the Volcker rule has yet to take final form, it's already making its impending presence felt on Wall Street, said former Federal Reserve Chairman Paul Volcker. "Banks have stopped their straightforward proprietary trading operation, and they've largely cut back on their hedge funds and equity funds. And as the managements and the directors finally understand that, 'Yes, this is a law that has to be followed,' they'll be able to manage their trading desks in what I think is an effective way," Volcker said.

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