As Adam noted last night, despite House passage of Financial Regulatory reform, the bill still seems in peril in the Senate with five of the six holdouts still seemingly wavering. But, frankly, going into a recess why would you declare your vote? If you were, say Scott Brown, would you a) declare that you’re going [...]
Senate Banking Committee Chairman Chris Dodd stood an hour ago in the Senator’s Retiring Room off of the Senate floor in an intense conversation with Massachusetts Senator Scott Brown – one of surely many they will have today. Dodd is trying to get Brown, one of four Republicans who voted for the Senate version of [...]
Another signature piece of legislation and another untimely death of a Senate institution. Massimo Calabresi has this great look at Byrd’s legacy. But in the meantime whither financial reform? The Senate was scheduled to pass it this week and send it to the President’s desk to be signed into law. But Byrd’s passing leaves them [...]
For anyone interested, tune in C-SPAN3 right now to watch the conference on the financial regulatory reform bill live. The House and Senate versions are already very similar but the largest sticking point remains language authored by Senate Agriculture Committee Chairman Blanche Lincoln requiring banks to spin off their in-house derivatives trading desks. The provision [...]
Wallace C. Tubeville, a former Goldman Sachs VP and former CEO of derivative broker VMAC, has done us all a service. In a post on New Deal 2.0, he lays out the over-the-counter derivative trader’s view of why financial reform is a bad thing. A level playing field is anathema to the trader. Successful traders [...]
I was just about to hit send on a post about how the Dems were rolling out cots for a forced all night session on financial regulatory reform when I got this email from Senate Minority Leader Mitch McConnell: “I appreciate the efforts of Sen. Shelby to work toward a bipartisan solution on an issue [...]
Here’s a story from me today about Senate Banking Committee Chairman Chris Dodd and his push to get financial regulatory reform done. Dodd’s taken a pretty unique approach to this bill from the get-go, assigning bipartisan teams to hammer out deals on the most senstivie topics; working with Banking Committee ranking Republican and then Tennessee’s [...]
