Occupy the SEC Releases 325-Page Comment Letter on "Volcker Rule" Proposals

A blog about business and economics.
Feb. 14 2012 8:40 AM

Occupy the SEC Releases 325-Page Comment Letter on "Volcker Rule" Proposals

I naturally have not had time to read these 325 pages' worth of commentary from Occupy the SEC in response to regulatory agencies' request for comments on proposed implementations of the Volcker Rule, but I sure am glad to see it. It gets fashionable at times to respond to poor performance from the political system with disengagement from it, but policy fights are won by people who show up. This is the day-in, day-out grind of policymaking—calling legislators, responding to regulatory agencies, learning the issues, encouraging someone good to run for office, etc.

On the merits, I think the Volcker Rule is basically a sideshow as far as the real causes of the 2007 financial panic or the subsequent Lesser Depression are concerned, but for somewhat murky reasons this is what landed on the agenda as a way of limiting the clout of the biggest financial institutions, so it's worth sticking up for a sound implementation.

Matthew Yglesias is the executive editor of Vox and author of The Rent Is Too Damn High.

TODAY IN SLATE

Politics

Talking White

Black people’s disdain for “proper English” and academic achievement is a myth.

Hong Kong’s Protesters Are Ridiculously Polite. That’s What Scares Beijing So Much.

The One Fact About Ebola That Should Calm You: It Spreads Slowly

Operation Backbone

How White Boy Rick, a legendary Detroit cocaine dealer, helped the FBI uncover brazen police corruption.

A Jaw-Dropping Political Ad Aimed at Young Women, Apparently

The XX Factor
Oct. 1 2014 4:05 PM Today in GOP Outreach to Women: You Broads Like Wedding Dresses, Right?
Music

How Even an Old Hipster Can Age Gracefully

On their new albums, Leonard Cohen, Robert Plant, and Loudon Wainwright III show three ways.

How Tattoo Parlors Became the Barber Shops of Hipster Neighborhoods

This Gargantuan Wind Farm in Wyoming Would Be the Hoover Dam of the 21st Century

Moneybox
Oct. 1 2014 8:34 AM This Gargantuan Wind Farm in Wyoming Would Be the Hoover Dam of the 21st Century To undertake a massively ambitious energy project, you don’t need the government anymore.
  News & Politics
Politics
Oct. 1 2014 7:26 PM Talking White Black people’s disdain for “proper English” and academic achievement is a myth.
  Business
Moneybox
Oct. 2 2014 9:19 AM Alibaba’s Founder on Why His Company Is Killing It in China
  Life
Quora
Oct. 2 2014 8:27 AM How Do Teachers Kill the Joy of Reading for Students?
  Double X
The XX Factor
Oct. 1 2014 5:11 PM Celebrity Feminist Identification Has Reached Peak Meaninglessness
  Slate Plus
Behind the Scenes
Oct. 1 2014 3:24 PM Revelry (and Business) at Mohonk Photos and highlights from Slate’s annual retreat.
  Arts
Culturebox
Oct. 2 2014 9:08 AM Demons Are Real A horror movie goes behind the scenes on an Intervention-like reality show.
  Technology
Future Tense
Oct. 1 2014 6:59 PM EU’s Next Digital Commissioner Thinks Keeping Nude Celeb Photos in the Cloud Is “Stupid”
  Health & Science
Bad Astronomy
Oct. 2 2014 7:30 AM What Put the Man in the Moon in the Moon?
  Sports
Sports Nut
Oct. 1 2014 5:19 PM Bunt-a-Palooza! How bad was the Kansas City Royals’ bunt-all-the-time strategy in the American League wild-card game?