We already know that just about every financial firm in the United States opposes the proposed Volcker Rule to prohibit proprietary trading at banks. Now the rest of Corporate America is sounding off—everyone from Abbott Labs to Yocum Oil, to be exact.
In a comment letter to the Securities and Exchange Commission delivered yesterday, a total of 30 U.S. corporations and trade associations urged the SEC and other regulators to drop the proposed rule and start over with public roundtables and a new draft more reflective of market sentiment.
