Volcker Rule---named for Chairman Paul Volcker, although legend has it he thought it could have been better, is to prevent large risky bets by banks that end in the sinking of their own customers and
perhaps the entire global economy as well. In December of 2013 the Volcker Rule,
part of the Dodd Frank legislation which is approximately 950 pages, will press global
cooperation[1], and will require each hedging transaction to carry the transaction it is hedging against, at
least according to legend. The rule was modified in a rider on the omnibus spending bill that passed in mid December of 2014. The modification was protested by Senator Elizabeth Warren. Evidently the modification was written by lobbyists of Citigroup*, a firm which supports private equity.
*Thanks to Citigroup for the mention