February 10, 2012
I’m writing in support of a strong Volcker Rule. My family and I were affected by the economic collapse of 2008, and we don’t want it to happen again.
As you prepare the final rule, bear in mind the fundamental goal of the rule – to ban big banks from exposing consumers and taxpayers to risky proprietary trades.
Banks that break the rule should face swift, automatic penalties for violations. Violations of the Volcker Rule endanger the stability of our financial system. They should not be treated lightly. This is a prime example of how our government has held the hands of banks, big business, the 1%, and ravaged the middle and working class of this nation. After they collapsed the economy, they were treated with kid gloves, no accountability, and bailed out by the very people they hurt the most. Where were you when they were gambling with our money? If we don't have tough regulators to protect the safety of our citizens, then why am I paying taxes for your existence? Why are you not doing your job? The republicans have fought any form of reform with money from the banks, and you do nothing. They should all be in jail, you should all be fired. The American people deserve better than a government for the rich.
Exemptions should only be allowed if they do not undermine this goal. If an exemption would result in exposing consumers and taxpayers to bank risk, it should be rejected.
Thank you for considering my comment,
Lee Smith
California Hot Springs, CA