paul volcker's so-called life

Why Can’t Anyone Just Call It ‘the Volcker Rule’?

Giving banks until 2022 to fully implement the so-called Volcker rule is an accommodation for Wall Street…” BusinessWeek, June 29.

“Agreement among US lawmakers on the so-called “Volcker rule” of the Dodd-Frank Act - published this week - now seems all but certain…” Financial Times, June 30.

“His main goal was to preserve the so-called Volcker rule, which barred banks from speculating in the markets—a practice known as proprietary trading—and from operating and investing in hedge funds and private-equity funds.” New Yorker, July 29.

“Among the more controversial parts of the law (from Wall Street’s perspective anyway) is the so-called Volcker rule…” Forbes, Aug. 4.

“The first of the two final battles coalesced around an effort by Sens. Carl Levin of Michigan and Jeff Merkley of Oregon to implement the the so-called “Volcker rule”…” Rolling Stone, Aug 5.

We’re sorry, but we feel compelled to point out that the dismissive manner in which everyone has been referring to Paul Volcker’s rule is getting a little bit rude. It’s been like a year since the president said of this important aspect of the financial-regulation bill, “I’m calling it the Volcker Rule, for this guy here,” and while, yes, there have been some changes made to said rule, the name is not going anywhere, so it’s perhaps time to just accept it and move on. We’re not saying this for ourselves, we’re saying it for Paul Volcker, obviously.The man’s been through enough.

Why Can’t Anyone Just Call It ‘the Volcker Rule’?