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Derivatives Proposal Gets Watered Down By Dodd At The Last Minute

Derivatives Bill

First Posted: 05/19/10 09:33 AM ET Updated: 05/25/11 05:30 PM ET

Washington Post:

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: Washington Post

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Filed by Ryan McCarthy  |