US Federal Reserve (THE FED)

21 Dec 2011 - Fed proposes rules to tame Wall Street risk-taking
Fed gives banks another "pat on the back, job well done".  Although Dodd-Frank bill was advertised as putting tough new rules on banks, the Fed now shows its hand: the rules will not be any tougher than agreed international rules (Basel III).  Meanwhile, two days ago the price of Bank of America sank below $5/share on a closing basis- below the minimum price level that some funds have for their equity holdings.  Until banks go back to showing bars of gold in their vaults, why should anyone trust them?