The Volker Rule Has Been Approved By Five Government Regulators: Will The Banks Hold Up Implentation?

The Volker Rule, is part of the Dodd-Frank act that was enacted to limit systemic risk in the financial system.  It would prohibit banks whose deposits are insured by government from engaging in proprietary trading.  For example, the $6 billion trading loss suffered by JP Morgan would illegal.  The banks of course, don't want to lose the revenue that they receive from proprietary trading.  There are many legal tactics that they might employ to prevent the implementation of the Volker Rule.  This article describes the pros and cons of the legal tactics that the banks might use to prevent implementation of the Volker Rule.