Paul Volcker Supports Merkley-Levin Amendment To Senate Financial Reform Bill

[laughingliberal]

Clearing up any confusion about where he stands, White House economic adviser Paul Volcker sent a simple note to Sens. Carl Levin (D-Mich.) and Jeff Merkley (D-Ore.) on Wednesday, giving them his full support for an amendment that will ban banks from trading taxpayer-backed money for their own profit.

The letter reads, in its entirety: "I am fully in support of the Merkley-Levin amendment, which will clarify and enhance the proprietary trading restrictions contained within the Dodd Bill."

The prop-trading ban is known as the "Volcker Rule."

On Tuesday, Volcker expressed his opposition to attempts to weaken the language in the underlying bill, while praising the effort by Levin and Merkley. His Wednesday letter makes his position that much clearer.

Read More: http://www.huffingtonpost.com/2010/05/20/paul-volcker-supports-mer_n_582935.html

[Change Happens]

1. Excellent news, I am glad...I think this is one of two remaining MAJOR issues left

to sort out, I know Dodd was willing to drop them and move on, but the libs. said no, so far...

What time is the vote today?