Wall Street regulators have caved in once-again to the demands of Wall Street lobbyists, softening a crucial rule that would continue to allow a handful of big banks to control the risky derivatives market.
Hamilton Nolan · 03/21/13 09:50AM
A week after a harsh Senate report on how derivatives cost JPMorgan billions, Congress seeks to deregulate derivatives.
JPMorgan Chase CEO Jamie Dimon, the princess of Wall Street, is venting again about the ignorant public and regulators whose "misconceptions" are blocking them from seeing the glory and perfection that comes with a fully unregulated financial services sector.
House and Senate conferees reached a deal on a final financial regulatory reform package last night (this morning?) at 5:39 a.m., with junk food wrappers strewn about the hallowed chamber. What were the final agreements in this, the Dodd-Frank bill?
Democrat Blanche Lincoln, sworn enemy to the left, may see her Senate career come to an end tonight in Arkansas, where she faces a runoff against Lt. Gov. Bill Halter. The polls are close! Can she just lose already?
Good news! A Republican helped move a crucial component of financial regulatory reform through a procedural hurdle today, which marks the first time a Republican has helped a Democrat since, oh, the Civil War. But there's bad news too, right?