Barney Frank Says Derivatives Spinoff Proposal ‘Goes Too Far’
May 25, 2010 at 12:32 PM EDT
House Financial Services Committee Chairman Barney Frank (D., Mass.) on Tuesday said the White House’s proposal to force banks to spin off bank derivative arms “goes too far.” “Banks ought to be able to hedge their own risks,” Frank said, adding that the Volcker Rule, which would prohibit high-risk trading, limits the use of derivatives at [...]