# Prof. Richard Sylla on the Volcker Rule

1 Faculty News December 15, 2013 ![The New York Times Logo](/sites/default/files/styles/246w/public/assets/images/uat_027320.jpg?itok=W8xBr66g)>

Excerpt from [The New York Times](http://www.nytimes.com/2013/12/15/business/wake-up-the-banking-police.html) -- “'The passage of the Volcker Rule represents a step partway back to the Glass-Steagall regime that has historical significance for helping to give us four to five decades of relative financial stability from the 1930s to the 1980s,' said [Richard E. Sylla](http://www.stern.nyu.edu/faculty/bio/richard-sylla), the Henry Kaufman professor of the history of financial institutions and markets at New York University. 'Even if we don’t see a lot of actions against violators, the mere fact that the rule is on the books will make banks think twice before engaging in activities that might result in actionable violations.'”

[Read more](http://www.nytimes.com/2013/12/15/business/wake-up-the-banking-police.html)