UPDATE 10:30PM Alexis writes in:
If others want to comment, there is still time, the deadline is midnight. Occupy the Comments!
Here’s the rule itself: https://www.federalregister.gov/articles/2011/11/07/2011-27184/prohibitions-and-restrictions-on-proprietary-trading-and-certain-interests-in-and-relationships-with
4-430pm: Assemble at Liberty Plaza
5pm: March to the Fed (33 Liberty Street )
5:30pm: March to the SEC’s NY Office (3 World Financial Center, Suite 400)
February 13th marks the deadline for Public Comment on the draft version of the Volcker Rule. The Volcker Rule is a new regulation that aims to curb risky behavior at banks that have enjoyed bailouts and cheap funding from the Fed. It does so by prohibiting big banks from doing two things:
1. Proprietary Trading
2. Owning Hedge Funds or Private Equity Funds
Between now and the summer, the SEC, The Fed, the FDIC and the OCC will be deciding on what the final rule will look like. The banking lobby would love for the rule to be watered down. We want to march on the Fed and the SEC to let them know that we are watching, and we are asking them not to bow to the banks, but to draft a strict, loophole-free version of the Volcker Rule.
Monday, February 13th is the deadline for the public to submit comment on the draft of the Volcker Rule. To learn more about how to comment, visit Occupy the SEC.