The Volcker Rule, a component of the far-reaching Dodd-Frank law, required large banks to cut back on proprietary trading.
Clift: The Volcker Rule is supposed to go into effect this summer.
People began predicting a roll back of Volcker and watering down of other measures.
Volcker, it should be noted, came to the Obama administration with great fanfare.
But Volcker spent much of his first year in the administration with very little influence on economic policy.
