In farewell speech, Fed's Tarullo offers fixes on bank regulation
Mon, Apr 17, 2017 - 5:50 AM
In a speech at Princeton University on April 4, his penultimate day in office, Mr Tarullo unexpectedly acknowledged that the Volcker Rule was a mistake. The rule essentially seeks to prevent big banks from engaging in proprietary trading.
MUCH to the relief of Wall Street executives, who feared and hated him in equal measure, Daniel Tarullo left his powerful perch on the Federal Reserve Board of Governors last week, but not before delivering one last lecture on how big banks should be regulated in his absence....