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Volcker: Wall St. Kills Regs By Running Out the Clock


As Federal Reserve chairman more than 30 years ago, Paul Volcker tamed out-of-control inflation and helped rescue the U.S. economy.

The 85-year old later shaped some of the reforms contained inthe Wall Street overhaul known as Dodd-Frank after the 2008 financial meltdown. The stooped 6’7” regulator—quite literally a giant in the field—became the namesake of a rule meant to restrict the ability of government-protected banks to speculate in the markets for their own profits.

So when Volcker declared on Monday that the financial regulation system is broken, it’s time to sound the alarm. The gist of his complaint i...