Dennis Gartman appeared on Squawk Europe overnight, and contrary to the latest chatter, he’s predicting that the Volcker Rule will in fact end up being enacted, an outcome which he called “very sad.”
Why?
Because prop trading had nothing to do with the crisis, which was all about the government pushing more bad loans.
He also predicted it will cause havoc in financial markets, and a loss of liquidity.
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See Also:
- So Basically, Chris Dodd Is Killing The Volcker Rule Because He Was Left Out Of Obama’s Cool Kids Club
- Richard Shelby Just Told You That The Volcker Rule Is Dead
- Rumor: "Volcker Rule" Already Dead, Has Zero Chance In The Senate