The American Bankers Association, a representative of majority of the community banks in the US, said the provision on banning investments in collateralized debt obligations will result to the lenders losing $600 million in the process.
Paul Volcker
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As the Volcker rule for banking and trading is being wrapped up by five US government agencies, politicians and advocates of the controversial Glass-Steagall legislation intended to push a revival of a version of its favored banking act should the former fail to curb risky betting by US banks.
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