Then he would rein in finance, reforming banks with a law to separate their loan-making business from their "speculative operations".
DealBook R.B.S. Proposes 'Souped-Up Version of the Volcker Rule' | In a report to Britain's Independent Commission on Banking, the Royal Bank of Scotland has put forward a restructuring proposal that would require British banks to ring-fence their speculative operations from their core functions, Sky News reports.
After the war, backed largely by U.S. capital, Kreuger launched a series of highly speculative financial operations, the aim of which was to secure a monopoly of the production and marketing of matches outside Sweden.
Mr. Eccles was not a fan of big Wall Street firms and their speculative stock market operations; rather, he understood and identified with smaller banks that lent to real businesses.
Beyond their baseline mode of operation, certain speculative operabonal modes exist that could signiticantly enhance the capability of APT vehicles in the future.
In a statement after rumors of losses were reported yesterday morning, Bank of America said: "We know of no basis to support speculative rumors about our operations.
However, he is not as conservative as he was several years ago and can no longer be counted on to eschew speculative gambits and incisive tactical operations.
Buffett's tough tone will add ballast to the drive by the Obama administration to reform the banking system under the so-called Volcker rule separating banks' retail operations from the riskier speculative elements.
The Vickers plan, based on the Independent Commission on Banking report led by Sir John Vickers, is designed to keep saver and business deposits from being compromised by the more speculative activities typically undertaken by investment banking operations.
Mr. Wendt, 58, gained a wide following at GE Capital, but he faces very different challenges at Conseco, whose bonds are rated as speculative, or below investment grade, and whose insurance operations have a relatively low rating as well.
