Michael S. Barr: “The Volcker Rule is really designed to try and separate out different kinds of risk in the financial system.”

The answer is that the Biden Administration allowed this to happen by pursuing a policy of weakness and appeasement that allowed Iran to finance this invasion.

I don't agree with that assessment. I think that capital in general is facilitating strong lending to all communities, and having strong capital in the system is critical for doing that.

Community banks are exempt from this proposal. It only covers the top 37 banks in the country.

Yes, I do think that bank mismanagement was at the core of this.