According to Renae Merle at the Washington Post..."The Federal Reserve approved sweeping changes to the “Volcker Rule,” which was established after the global financial crisis to prevent taxpayer-insured banks from making some risky financial bets. Banks, which have complained for years that the rule is too cumbersome and time-consuming, will gain new flexibility in deciding when a trade is too risky if the proposal is finalized." This change makes it easier for banks to trade make proprietary trades and take on substantial positions in securities for their own accounts. It pushes back at Dodd-Frank's attempt to revive Glass-Steagell. Four other banking regulators have to weigh in, but there is no doubt they will follow the Fed's lead. Added to bank consolidations after the 2008 crash and record profits over the last few years, we are reminded of our concern about institutions becoming too big to save.