Page 2 of 2 Previous

Continued: Five years after Lehman, banks still at risk

  • Article by: YALMAN ONARAN, MICHAEL J. MOORE and MAX ABELSON , Bloomberg News
  • Last update: September 11, 2013 - 9:00 PM

One reason is the intensity of Wall Street’s pushback. Bank executives, lobbyists and lawyers logged more than 700 meetings with regulators on a section of Dodd-Frank that seeks to curb banks’ trading for their own account, according to data compiled by Kimberly Krawiec, a Duke University law professor. An October 2011 proposal for implementing the rule, named after former Fed Chairman Paul Volcker, generated more than 18,000 letters, many from banks complaining it was too complex and could hurt economic growth.

Regulators still haven’t finished the Volcker rule.

  • related content

  • Lehman Brothers Holdings Inc. Chief Executive Richard Fuld was heckled by protesters as he left Capitol Hill after testifying before the House Oversight and Government Reform Committee in 2008 on the collapse of Lehman Brothers.

  • Sept. 15, 2008: Lehman Brothers succumbed to the subprime mortgage crisis it helped create, in history’s biggest bankruptcy filing.

  • get related content delivered to your inbox

  • manage my email subscriptions

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

 
Close