Huffpost Business

Derivatives Proposal Gets Watered Down By Dodd At The Last Minute

Posted: Updated:

Without announcement or fanfare, the Connecticut Democrat -- chairman of the Senate banking committee and chief architect of the pending legislation -- was quietly trying to resolve one of the few remaining disputes that could impede the passage of the landmark bill: a disagreement over financial instruments called derivatives that has sent shudders through Wall Street.

At issue was a single section a third of the way through the massive 1,400-page bill that could force a handful of the nation's biggest banks to spin off their billion-dollar businesses in trading derivatives.

Read the whole story at Washington Post

Around the Web

Grassley Joins Democrats in Approving Derivatives Bill - The ...

Senate Agriculture Committee passes derivatives bill - Carrie ...

New Derivatives Bill Opens Up Many Loopholes for Wall Street ...

Dodd tries to gut derivatives bill

Scenarios: Re-election fight for Senate Agriculture chairman

Reid Expects Cloture Vote On FinReg Tomorrow AM