The White House has given more details about the Volcker Rule, yet many people are wondering what this is. MarketWatch reports:

The Obama administration on Wednesday sent key lawmakers on Capitol Hill more details about the White House proposal to limit the size and trading activities of the nation’s largest financial institutions, according to Senate Banking Committee spokeswoman Kirstin Brost. She said Sen. Christopher Dodd, D-Conn., is examining the additional details. This proposal, combined with other new limits on big banks, has been dubbed “The Volcker Rule” after former Federal Reserve Chairman Paul Volcker, who chairs Obama’s economic advisory panel and was a key backer of the measures. In addition to limiting the size of banks, the Volcker rule would prohibit commercial banks from owning hedge funds and buyout shops. The Senate Banking Committee is considering whether to add the elements of the proposal to broad bank regulation under consideration on Capitol Hill.

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