How U.S. financial regulation fight might play out
Author: Kevin Drawbaugh, Reuters
Mar 11, 2010
"The debate over financial regulation overhaul has a long way to go in the U.S. Congress, with the action now centered in a Senate committee, where analysts, aides and lawmakers see several possible scenarios ahead.
Here is a look at what could be coming for Democrats and Republicans as they thrash out possibly the biggest regulatory changes for banks and capital markets since the 1930s.
BANKING COMMITTEE COMPROMISE
Senate Banking Committee Chairman Christopher Dodd has broken off talks with Republicans on a bipartisan bill and announced he will unveil a Democratic bill next week and bring it before the committee for debate and a vote.
Three major issues prompted the breakdown in talks -- consumer protection, shareholder rights, and derivatives regulation. They will be key to deciding the outcome, along with the actions of a handful of moderate Democrats."
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"Meaningful reform of our financial regulatory system is finally within reach. The opportunity to pass such a comprehensive overhaul may not come again in our lifetimes."
Source: Sheila Bair, Chair, FDIC
