Volcker Says He Didn’t Help Write Rule Bearing His Name
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Paul Volcker said he wasn’t involved with writing the final version of the rule that bears his name, staying abreast of developments from a distance as regulators crafted details of his curbs on trading by banks.
“It’s not my function to stay involved with the agencies,” Volcker, 86, said in an interview yesterday. “I get reports and updates, a problem here and a problem there, but nothing directly involved. I personally stayed away from talking with any of the principals.”