"Volcker Rule," which aims to ban lenders that accept U.S. taxpayer-insured deposits from engaging in proprietary trading.

The new rule gives banks more leeway in terms of trading activity and simplifies how banks can tell if that trading is permitted by law.

the changes were criticized by consumer groups and Democratic lawmakers who say a rewrite could put taxpayers at risk.

FDIC Commissioner Martin Gruenberg, a Democrat ... voted against the final rule Tuesday, saying it

would "effectively undo" the rule's protections.

the new rule narrows the definition of banned trading in a way that could free up banks to engage in riskier bets with potentially billions of dollars in financial instruments.

The other three FDIC board members, all Republicans, voted in favor.

The rewrite aims to clarify which trades are exempt from the ban, such as when banks facilitate client trades and hedge risks, and to expand those exemptions.

the rewrite simplifies a separate part of the rule which makes it easier for banks to invest in hedge funds or private equity funds.

The banking industry hailed the rule, PROOF that it's bad for depositors.

while calling for regulators to expedite that additional relief. We Want More!

https://news.yahoo.com/u-banking-regulator-approves-simpler-125524235.html

The Capitalists' casino is open for business.

Gentlemen, place your bets (private gain is all yours, while your losts, risks will be covered by taxpayers.)