Comment Text:
My full comments are attached.
I support a full implementation of the Volcker rule included in Dodd-Frank with as few loopholes as possible, especially for large institutions whose speculation threatens the economy in downturns. The liquidity their capital provides for a fair-weather economy does not offset or justify the risk removal of this liquidity inevitably creates in a downturn. Just say no to promises of market liquidity, denials that speculative investments are not an important risk, claims of anti-competitive effects and blustering that regulations are too complicated or costly that comes from institutions that participated through their lobbyists in making the rules more complicated.
The job of regulators should be to reduce risk to the market economy, not the convenience of large players.
