Money Morning – The fallout from the “Volcker Rule,” President Barack Obama’s proposal to ban banks from making speculative investments that do not benefit their customers, rattled stock and bond markets last week as analysts panicked over the possible repercussions.
At its heart, the plan would fundamentally change the banking industry, separating commercial banks from investment banks, a line that was muddled over a decade ago by the repeal of the Glass-Steagall Act.
