Bank Stocks See Volatility But Hold On to Gains In Face of Volcker Testimony

Goldman Sachs (NYSE: GS) +2.2% shares, while seeing increased volatility, are holding up strong in the face of the testimony of Paul Volcker about his plan to reign in Wall Street and remove the proprietary trading operations from any bank.

Other banks including Morgan Stanley (NYSE: MS) +1.5%, JPMorgan Chase & Co. (Stanley (NYSE: JPM) +2.1%, Bank of America (NYSE: BAC) +1.3%, and Citigroup (NYSE: C) +1.6% all seeing similar action.

Senator Chris Dodd (D) said he strongly supports the Volcker plan, while Richard Shelby (R) is concerned by the proposal.

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