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Dodd Throws Volcker a Bone

March 15, 2010 - by Donny Shaw

The Obama-proposed Volcker Rule, which is designed to prohibit banks from engaging in high-risk speculation that has no societal benefit, was supposed to be "dead on arrival" in the Senate. Banking Committee Chairman Sen. Christopher Dodd [D, CT], who is retiring and hopes to pass financial reform as a last boost to his legacy, saw the proposal as a poorly-timed addition to the legislation that could threaten its support from conservative, pro-Wall Street lawmakers.

But from the summary of the bill released today by Dodd, it appears to be included ...just in a watered-down, toothless iteration:

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