[Happy Horse Shit]

Yes, because getting rid of the fiduciary rule was very important to make sure advisors don't have to give advice in best interest of clients. Make sure that advisors do what's in the best interest of the advisor. That makes sense.

And yes, let's get rid of the Volker rule so banks can use customer deposits to make speculative investments. Because what could possibly go wrong?

Volker rule is not about speculative securities, it is about speculation with money that belongs to investors and depositors of the bank. Speculation in a bank can be as simple as taking a position in ten year treasuries and playing long for a gain or shorting for a gain--these trades are short term most probably less than three hours in duration. It can be more than that also like making markets in stocks (mostly NASDAQ issues) So as soon as someone yells VOKER Rule it is like bandits are in the building. The majority of the trading internally for the banks was not "speculative" It was speculation meaning they were for very short periods of time, there was no goal to reach, just try to make money or break even, cut your losses right away--that is how it is supposed to work. Now I know there were some banks who got in to deep--and leverage was the enemy. Even if Dodd Frank was completely done away there would be new rules written spelling out what banks can do and what they can't--it is not like there will be new rules. In fact I would be okay with them resurrecting Glass Stengel it worked for 60 plus years, but it would make every institution choose either be just a bank or be a brokerage firm, insurance firm. Bill Clinton signed it into law as he was heavily Lobbied by Sandy Weil who owned Travelers, Smith Barney and Citigroup all separate entities, years later Weil saidin an interview it was the wrong thing to do. The Gramm-Leach Bliley rule removed the rules that prevented banks from being in the insurance business, the brokerage business etc.

[WestCoastFunding]

Volker rule is not about speculative securities, it is about speculation with money that belongs to investors and depositors of the bank. Speculation in a bank can be as simple as taking a position in ten year treasuries and playing long for a gain or shorting for a gain--these trades are short term most probably less than three hours in duration. It can be more than that also like making markets in stocks (mostly NASDAQ issues) So as soon as someone yells VOKER Rule it is like bandits are in the building. The majority of the trading internally for the banks was not "speculative" It was speculation meaning they were for very short periods of time, there was no goal to reach, just try to make money or break even, cut your losses right away--that is how it is supposed to work. Now I know there were some banks who got in to deep--and leverage was the enemy. Even if Dodd Frank was completely done away there would be new rules written spelling out what banks can do and what they can't--it is not like there will be new rules. In fact I would be okay with them resurrecting Glass Stengel it worked for 60 plus years, but it would make every institution choose either be just a bank or be a brokerage firm, insurance firm. Bill Clinton signed it into law as he was heavily Lobbied by Sandy Weil who owned Travelers, Smith Barney and Citigroup all separate entities, years later Weil saidin an interview it was the wrong thing to do. The Gramm-Leach Bliley rule removed the rules that prevented banks from being in the insurance business, the brokerage business etc.

Happy Horse **** is the type of guy that if you asked him who he thinks will win the Superbowl between the Pats and Falcons, he'll start off with "You know, back in 1969 the Jets won the Superbowl. The Jets had a quarterback named Joe Namath. Joe Namath went to college in Alabama and..."

[Happy Horse Shit]

Happy Horse **** is the type of guy that if you asked him who he thinks will win the Superbowl between the Pats and Falcons, he'll start off with "You know, back in 1969 the Jets won the Superbowl. The Jets had a quarterback named Joe Namath. Joe Namath went to college in Alabama and..."

Look it up. Then you might..and i say might understand what money is used for speculative bets inside banks prior to the Dodd Frank laws---The FDIC is very restrictive on how insured money can be used by banks.