It starts with “V” and ends in “R.” And, by the way, he’s not getting any younger, and wouldn’t mind seeing his handiwork in action before, you know, he can’t anymore.
“It is striking that the world’s leading investment bankers, noted for their cleverness and agility in advising clients on how to restructure companies and even industries, however complicated, apparently can’t manage the orderly reorganization of their own activities in more than five years,” Mr. Volcker said in a statement.
He added: “Or, do I understand that lobbying is eternal, and by 2017 or beyond, the expectation can be fostered that the law itself can be changed?”
Volcker Criticizes Delay To Namesake Rule [WSJ MoneyBeat blog]
Fed Gives Banks More Time to Sell Private Equity, Hedge-Fund Stakes [WSJ]