BBC: Volcker to spell out future of banks

Will an 82-year-old veteran central banker be the man who finally stops the music for the bankers of Wall Street?

A Congressional hearing in Washington on Tuesday may well provide the answer.

A week ago, US President Barack Obama, appeared to be telling America that the ideas of Economic Recovery Advisory Board chairman Paul Volcker would be the centrepiece of his plan to make the global financial system safer, announcing that the “Volcker rule” would determine the future of the world’s banks.

But since then, there has been complete confusion as to exactly what the President and Mr Volcker have in mind.

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Posted in * Culture-Watch, * Economics, Politics, Economy, Law & Legal Issues, Office of the President, Politics in General, President Barack Obama, The Banking System/Sector, The U.S. Government