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Lincoln's victory prompts new speculation about regulatory reform bill.

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elleng Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-09-10 03:50 PM
Original message
Lincoln's victory prompts new speculation about regulatory reform bill.
Edited on Wed Jun-09-10 03:56 PM by elleng
Lincoln, chairwoman of the Senate Agriculture Committee, is the chief advocate of a measure in the Senate bill that could force some of the nation's biggest banks to spin off their lucrative swaps desks. The provision is not in the House legislation and has faced opposition from administration officials, Wall Street lobbyists and top lawmakers from both parties.

But consumer advocates have stood by Lincoln's effort, which seeks to separate risky derivatives trading from federally insured firms and, in her words, "ensure that banks get back to the business of banking." . . .

Nobel Prize-winning economist Joseph Stiglitz on Wednesday called the Lincoln provision "an absolutely essential part of protecting our financial system . . . it protects the taxpayers and the investors.

http://www.washingtonpost.com/wp-dyn/content/article/2010/06/09/AR2010060904197.html?hpid=topnews

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DJ13 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-09-10 03:54 PM
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1. Sen. Lincoln "Just kidding!"
Please dont hate me Goldman Sachs, Im still there for you!

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hay rick Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-09-10 04:06 PM
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2. She was for EFCA before she was against it.
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kenfrequed Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-09-10 04:34 PM
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3. She will drop it like a hot rock
Seriously, and she will be able to do it while looking good too.

"I was for this amendment when I thought it was a good idea and before it was taken too far to those extremists within my own party"

I hate being right about crap like this.
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