Blanche Lincoln wants to force the banks to put their derivatives into separate entities that aren't subsidized by you and me. This is just common sense. But it's the biggest battle in financial reform right now.
The most important fight from here on out is protecting the surviving elements of the derivatives bill crafted by Sen. Blanche Lincoln. Lincoln's bill would force big banks who deal derivatives to spin off those operations into separate companies.
Paul Volcker appeared before the Senate Banking Committee to pump up his eponymous "Volcker Rule," which aims to limit the scope of banking activities. I'm left with a sinking feeling that we're watching a slow death of regulatory reform.