Big Banks Seek 7 Year Delay In Volcker Rule Implementation

The big banks and financial lobby are seeking to delay certain investments provisions of the Volcker for up to seven years, according to a report in the Wall Street Journal. Pulling the plug on big banks could force them to exit alternative investments At issue are investments in private equity and venture capital-backed start ups, often considered the most risky of alternative investments. Critics say big banks should not invest their own capital in these often illiquid gambles. Pulling the plug on the banks, however, could force them to exit such alternative investments “at fire-sale prices,” according to the report.  It…