Wednesday 7 January 2015

Here's why banks care about gutting Dodd-Frank

Mon Dec. 15, 2014  (excerpt)

Elizabeth Warren got a lot of attention last week for rallying liberals against a provision of the omnibus spending bill that repealed a portion of the Dodd-Frank financial reform bill. This particular bit of the law had required FDIC-insured banks to get out of the custom swaps business. If they wanted to buy and sell risky derivatives, the parent company needed to do it at a separate entity outside the bank, not with government-insured cash.


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