2012-09-05dealbreaker.com

``Yeah yeah yeah the Volcker Rule is too complicated, it should be simpler, why not just say "don't prop trade"? But of course then no one could tell you what prop trading is. The Vickers/Glass-Steagall rule is simple, but a rule like "don't use retail deposits to fund investment banking" leads to money market funds that invest in repos on securities dealers' inventories, which are very different words that mean "using retail deposits to fund investment banking."''


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