“President Obama has drawn several lines in the sand with more to come. Wall Street hates the “Volcker Rule”, but Main Street wants scrutiny of all bank regulators. Bank Failure Friday!
President Obama is listening to Paul Volcker turning his back to his banking regulators.
While implementation will take years to accomplish I believe that the “Volcker Rule” is part of the correct long term solution to end “The Great Credit Crunch”. After all, Federal Reserve policy has been ill-advised in my judgment since the 21st Century began. The US Treasury came up with TARP, and then used this taxpayer money in unintended ways with little impact on Main Street. The FDIC has not been quick enough to resolve failing banks…”
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About Richard Suttmeier:
Richard Suttmeier’s latest blog analyzes earnings from Intel, the most important technology stock, JP Morgan Chase, the most important “too big to fail” bank, and break-out’s for Comex copper and Nymex crude oil.
Richard Suttmeier is the chief market strategist for ValuEngine.com. Richard is an industry leader on the housing market and banking system and writes a newsletter covering The Great Credit Crunch. He produces a List of Problem Banks by name. He produces daily and weekly briefings covering the US Capital markets. Richard Suttmeier’s ValuEngine Four In Four video is available on forextv.com.
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