"When this bill becomes law, the joyride on Wall Street will come to a screeching halt," Harry Reid said last week, after the Senate passed its big finance reform bill.
Today on Planet Money, we dig into the "Volcker Rule" — the bill's ostensible ban on banks trading with their own money. And we look at the question:
Will the joyride really come to a screeching halt? And would it be a good thing if it did?
For more, read what Daniel Indiviglio of The Atlantic says about a key piece of the bill. Listen to our podcast from earlier this year, when we spoke with MIT professor Andrew Lo about banks trading with their own money.
And, if you haven't heard it already, check out this week's This American Life, which includes the latest Planet Money report from Haiti — a story about mangoes, poverty and plastic crates.