Canadian banks are running scared.They had hired the firm--Allen and Overy LLP to represnts a numbeer of canadian banks to fight against the proposed "Volcker Rule"by 21July,2012 .The proposed rule is to restrict investment banks from "proprietary trading practice"which only serve to benefit themslves but hurt the majority of investors.They must worry to death that once the bill is passed successfully in the US,the canadian government will have no choice but to follow suit.End of Algorithm tradings?End of the services provided by the likes of Anon and Jitney?I.ll see to believe it.Apparently,most of the big banks in the US(the usual suspects) are doing their best to influence the congress to alter the proposed Volcker Rule while some other "real"smallers banks and credit unions are totally for the proposal.Let,s see what happens.