Street
Sure Bet: How Wall Street is Dodging the Volcker Rule
Is Wall Street really scrambling to comply with the Dodd-Frank financial reform law? Dream on. Despite a number of recent leaks masquerading as news stories about big banks fleeing proprietary trading, as required by the measure, this NYT story suggests the firms are using a clever bit of legerdemain to continue gambling for their own accounts:
When Congress passed a new financial regulation bill last month, it sought to prevent federally insured banks from making speculative bets using their own money. But that will not stop banks from making bets that some critics deem risky, even as the rules go into effect over the next few years.
That is because many such bets — on the direction of the stock market or the price of coal, for example — are done on behalf of clients. So,
Why are there so many empty stores on the high street?
While the demise of UK retail chain Woolworth’s hit the headlines some time ago it is believed that in excess of 300 former Woolworth’s stores are still laying empty on high streets up and down the UK. Despite the fact that a number of companies have stepped forward to take on some of the former leases the very fact there are so many stores still empty is a perfect indication of the very difficult environment on the UK high street. The situation looks even worse when you consider the relatively low rental arrangements on offer as landlords look to at least bring in some income from these stagnating assets.
A report recently confirmed that the UK high street is struggling to make ends meet as online shopping becomes something of the norm in the UK. We have seen a massive increase in trading and purchase values from online shoppers and many believe this is just literally the start of a whole new phase in the development of the online arena.
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