Question: Select the FALSE statement. A. The main purpose of the Volcker Rule is to prohibit banks from investing their own accounts in sponsored hedge funds

Select the FALSE statement. A. The main purpose

Select the FALSE statement. A. The main purpose of the Volcker Rule is to prohibit banks from investing their own accounts in sponsored hedge funds and private equity funds. B. Because the business judgment rule protected directors decisions, Citigroup did not have to pay any penalties to the U.S. government for the sale of securities tied to bad-risk mortgages. C. A major reason for the 2007-2009 Great Recession was substantial investment by major banks in the subprime market, including the securitization of repackaged high risk mortgages. OD. A major purpose of the Dodd-Frank Act was to forbid creditor banks from making residential mortgages without first making a good faith determination that the customer could repay the loan

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