There are a lot of reasons to like the idea of a consumer financial protection agency. My colleagues Barbara Kiviat and Michael Grunwald have named the more substantive ones here, here and here. But I think I have stumbled across possibly the most telling data point yet on why the CFPA is a good idea: Jamie Dimon is scared of debating …
Wall Street & Markets
Why Bank Investors Should Cheer the Volcker Rule
The consensus seems to be that Obama’s proposal to limit the operations of the banks to lending and securities underwriting, and not proprietary trading and hedge fund investing, if enacted, would be bad for banks and bank shareholders. Many pointed to the so-called Volcker rule to explain last week’s market sell-off. Like Ritholtz, I’m …