I was looking for ways to improve the proposal to help our country. Given the political system realities we face today, it is my opinion that the Volcker proposal will fail to help the country.
A reasonably careful reading of the Draft proposal provides clear evidence of numerous exceptions, qualifiers, definitions and other obfuscatory statements which may well compromise the Rule's efficacy or, alternatively, provide ample work for litigation attorneys and financial industry lobbyists.
We do not need that.
We need financial industry stability.
The Glass-Steagall act provided that stability for fifty years.
The Volcker rule will not provide stability.
Drop the Volcker rule and reinstate the Glass-Steagall Act.