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Eisinger: Volcker Rules May Do Little To Curb Prop Trading

Much has been made of the Volcker Rule restricting banks from risking their own capital on trades.

But Jesse Eisinger of Propublica and the NY Times says the rules against such proprietary trading will do little to stop the practice.

He tells the desk that’s largely because prop trading isn’t executed the way many of us think. Hear all about it. Watch the video now.

Eisinger wrote about these developments at length. Click here go to to the Propublica website and read Trading for the Client? Or Winning on Its Own?




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Trader disclosure: On November 24, 2010, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AAPL), (BX), (F); Terranova Owns (UPL), (C), (PEP), (OXY), (VRTS), (GS), (FCX), (POT), (IBM), (AAPL), (ORCL), (MCD), (NKE); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT):Adami’s wife works at Merck; Finerman owns (AAPL); Finerman’s firm owns (AVP); Finerman and Finerman’s firm owns (BBY); Finerman’s firm owns (CMI); Finerman owns (DYN); Finerman’s firm owns (M); Finerman and Finerman’s Firm owns (MSFT); Finerman's Firm Is Short (IJR); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (SPY); Finerman's Firm Is Short (IWM); Finerman's Firm Is Long S&P Puts; Finerman's Firm Is Long Russell Puts; Cortes owns (TSN); Cortes owns (K); Cortes is short (XLE); Cortes is short (UNP); Cortes is short the Canadian Dollar; Cortes is short the Euro; Cortes is short the Mexican Peso; Cortes is short the Australian Dollar; Cortes is long U.S. Treasuries

For Joe Terranova
Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners own more than 1% of (ABAX)
Virtus Investment Partners own more than 1% of (ALK)
Virtus Investment Partners own more than 1% of (AMKR)
Virtus Investment Partners own more than 1% of (CASS)
Virtus Investment Partners own more than 1% of (CMS)
Virtus Investment Partners own more than 1% of (CSC)
Virtus Investment Partners own more than 1% of (CSVI)
Virtus Investment Partners own more than 1% of (FCFS)
Virtus Investment Partners own more than 1% of (IGE)
Virtus Investment Partners own more than 1% of (LDR)
Virtus Investment Partners own more than 1% of (LPHI)
Virtus Investment Partners own more than 1% of (MGRC)
Virtus Investment Partners own more than 1% of (NRCI)
Virtus Investment Partners own more than 1% of (DBV)
Virtus Investment Partners own more than 1% of (XLB)
Virtus Investment Partners own more than 1% of (XLP)
Virtus Investment Partners own more than 1% of (XLY)
Virtus Investment Partners own more than 1% of (XLF)
Virtus Investment Partners own more than 1% of (XLI)
Virtus Investment Partners own more than 1% of (XLU)
Virtus Investment Partners own more than 1% of (SOA)
Virtus Investment Partners own more than 1% of (SUBK)
Virtus Investment Partners own more than 1% of (WDFC)
Virtus Investment Partners own more than 1% of (WMB)
Virtus Investment Partners own more than 1% of (YDNT)
Virtus Investment Partners own more than 1% of (DRYS)

For Deborah Weinswig
An employee of Citigroup is a trustee of (TGT)
An employee of Citigroup owns (JCP), (WMT)
Citigroup is a market maker in (M), (CVS), (COST)
Citigroup owns 1% of more of (SKS), (SVU)
Citigroup intends to seek, within the next three months, compensation for investment banking services from (KR), (WMT)
Within the past 12 months, Citigroup has acted as manager of an offering of securities of (TGT), (HD), (WMT)
Citigroup has received compensation for investment banking services provided within the past 12 months from (TGT), (HD), (KR), (SKS), (WMT)
Citigroup received compensation for products and services other than investment banking services from (M), (TGT), (HD), (JCP), (KSS), (KR), (SWY), (WAG), (WMT), (COST) in the past 12 months.
Citigroup had within the past 12 months (TGT), (HD), (KR), (SKS), (WMT) as an investment-banking client.
Citigroup had within the past 12 months, the following as clients, and the services provided were non-investment-banking, securities related (M), (TGT), (CVS), (HD), (JCP), (KSS), (KR), (SWY), (SKS), (SVU), (WMT), (WAG), (COST)
Citigroup had within the past 12 months, the following as clients, and the services provided were non-investment-banking, non securities-related (M), (TGT), (HD), (JCP), (KSS), (KR), (SWY), (SVU), (WAG), (WMT), (COST)

For Jesse Eisinger
***No Dislcosures***

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