It's time for our financial institutions to get back to basics: making money off good customer service - not wild speculation.
By Sheila Bair, contributor
FORTUNE -- Financial reformers are pointing to the collapse of the $41 billion MF Global brokerage house as evidence of why we need Dodd-Frank's "Volcker Rule" to prohibit FDIC-insured banks and their affiliates from making proprietary bets on the markets. Fortunately, MF Global was not a bank or MOREDec 9, 2011 5:00 AM ET
Goldman Sachs lost money by doing all of the things the Volcker Rule says it shouldn't be doing.
FORTUNE -- Goldman Sachs reported just its second quarterly loss since it went public and the first since the dark days of late 2008. It also gave Paul Volcker a great big reason to push harder for his proposal to clamp down on investment banks trading for their own accounts.
Basically, the Volcker rule MOREBrendan Coffey, Contributor - Oct 18, 2011 9:58 AM ET
Goldman and Morgan have had two years to figure out what they want to be in the post-financial crisis world: Are they investment banks or bank holding companies? The Volcker Rule may change it all again.
By Cyrus Sanati, contributor
FORTUNE -- Goldman Sachs and Morgan Stanley are facing headwinds like never before. The two financial firms are widely expected to post weak third quarter earnings in the coming days thanks to MOREOct 11, 2011 11:18 AM ET
Is a big British shoe about to drop on the Goldman Sachs rally?
The Financial Times reports the U.K.'s Financial Services Authority could assess a big fine on the up-and-down investment bank as soon as Thursday, concluding a five-month-long probe of Goldman's (GS) business practices.
The fine could approach the $49 million penalty the FSA slapped on JPMorgan Chase (JPM) this year for running afoul of the prohibition on mixing client funds. MOREColin Barr - Sep 8, 2010 3:50 PM ET
Citigroup seems ambivalent about how to approach the Volcker Rule. Not coincidentally, so is everyone else.
By Heidi N. Moore, contributor
The Volcker Rule is one of those things that may come out of financial reform looking imperfect and end up being useless.
In its most recent manifestation, the Volcker Rule is supposed to prevent banks from holding too much exposure to risky activities like proprietary trading and investing in unpredictable businesses like MOREJul 8, 2010 11:52 AM ET
Much of the Dodd-Frank bill pushes the important decisions until years later. How to tame Wall Street in the meantime?
By Heidi N. Moore, contributor
World Cup soccer fans have become used to player theatrics, where a player who is so much as touched by a rival will immediately hit the turf and writhe around in the throes of completely manufactured agony, hoping to delay their usually inevitable loss.
Giant banks, it turns MOREJun 30, 2010 11:13 AM ET
|Light bulb ban set to take effect|
|Military retirees: You betrayed us, Congress|
|Ford set for most aggressive expansion in 50 years|
|I work 4 jobs and I'm still struggling|
|Worst year in history for bond funds: Investors yank record $72 billion|