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How Volcker Would Overhaul Wall Street Watchdogs 

April 21, 2015

Eric Pianin, The Fiscal Times

Wth Wall Street, the banking community and conservative lawmakers still bitterly complaining about the Dodd-Frank financial overhaul legislation approved in 2010, there appears to be little appetite in Washington for another major round of regulatory reform.

Making the financial services industry uncomfortable has never been a problem for former Federal Reserve Board Chairman Paul Volcker, however. On Monday, Volcker called for a complete overhaul of the financial regulatory system.

Volcker made his mark as Fed chairman in the early 1980s by pushing interest rates sky high in a successful bid to combat runaway inflation. More recently he advised President Obama on the financial crisis and had a hand in designing a controversial provision of Dodd-Frank. 

The Dodd-Frank law, named for former Senator Christopher Dodd (D-CT) and former Representative Barney Frank (D-MA), provided the most sweeping revision of the consumer and finance rules since the Great Depression.

Read More: The Fiscal Times

 
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