- ‘Gay Jeans’ that fade into rainbow-colored denim created
- Divided court strikes down big porn award
- Jimmy Carter: Don’t hurt Russian people with sanctions
- Oldest ex-MLB player dies in Cuba, 2 days shy of 103rd birthday
- ‘Top Gun’ for drones: Squadrons of carrier-based killers have Navy’s approval
- Bill Clinton to endorse Charlie Rangel for re-election
- Pfc. Bradley Manning is now Pfc. Chelsea Manning: Court says so
- Secret base U.S. special forces used to train Libyans now under terrorist control: report
- 9th suspect in N.C. kidnapping turns self in to FBI
- L.A. sheriff admits to testing flyover spy program without notifying residents
Volcker defends ban on proprietary trading
Former Federal Reserve Chairman Paul Volcker on Monday issued a broad defense of a federal rule bearing his name that would prohibit banks from trading for their own profit.
Commercial banks backed by government deposit insurance shouldn’t be able to engage in speculative trading, Mr. Volcker said in a letter supporting the so-called Volcker rule.
“Proprietary trading is not an essential commercial bank service that justifies taxpayer support,” he wrote.
The letter was sent to the five regulatory agencies that have approved a draft version of the rule, including the Federal Reserve and the Securities and Exchange Commission.
The rule is expected to be finalized by summer. Banks will then have until July 2014 to comply.
U.S. probes door fires in TrailBlazers
DETROIT | Federal safety regulators are investigating fires in the driver’s side doors of Chevy TrailBlazers, the second such probe in a week.
The latest inquiry involves more than 309,000 TrailBlazer SUVs from the 2006 and 2007 model years. The fires began in the power window switch or related electrical parts, the National Highway Traffic Safety Administration said Monday.
The agency opened the first probe last week into similar problems with the 2007 Toyota Camry sedan and RAV4 small crossover SUV. The TrailBlazer investigation began Thursday.
All three of the vehicles under investigation are popular. None has been recalled.
Europe approves Google’s $12.5B Motorola Mobility deal
© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.
TWT Video Picks
By Andrew P. Napolitano
Obama's veil of secrecy is pierced
- 'Top Gun' for drones: Squadrons of carrier-based killers have Navy's approval
- Pentagon plans to replace flight crews with 'full-time' robots
- America is an oligarchy, not a democracy or republic, university study finds
- Obama avoids 'red line' for China; prepared to impose tougher sanctions on Russia
- Nevada rancher Cliven Bundy hailed as patriot, ripped as lawless deadbeat
- Kansas will nullify local regulation of guns
- Tactical advantage: Russian military shows off impressive new gear
- Brain surgery victim struggles with Obamacare: 'It's scary'
- Protesters, police clash in Philippines ahead of Obama visit
- CARSON: When government looks more like foe than friend
Top 10 handguns in the U.S.
Celebrity deaths in 2014