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Politics : President Barack Obama
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To: Mac Con Ulaidh who wrote (75305)5/19/2010 3:09:20 PM
From: tejek  Read Replies (2) of 149317
 
Even the best-laid plans can succumb to the political whirlwind. Since her derivatives proposal was introduced the broader political environment has become even more toxic for Wall Street. Lincoln isn't out of the woods yet back home, having been forced into a runoff last night. Hoping to thread the needle, Dodd made his move yesterday to water down the provision, but was met with howls from more progressive senators already threatening to abandon the overall bill as too weak.

I think the provision will be DOA. They don't need to take derivatives away from banks......rather they need to regulate the banks so they don't play fast and lose with derivatives. Even Buffet hates the provision. Lincoln was grandstanding to save her butt in the primary and it didn't work.
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