The Dodd-Frank banking law was passed in 2010. From CNNMoney: "Contained within the Dodd-Frank legislation, which was passed in 2010, is the Volcker Rule, named after former Fed chair Paul Volcker.
It sets limits on U.S. banks' ability to trade their own funds. That wasn't the case in 2008, when losses from bad bets that banks made on mortgages led to the ensuing meltdown of Bear Stearns and Lehman Brothers." money.cnn.com