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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Bread Upon The Water who wrote (75339)	5/19/2010 6:30:41 PM
From: tejek	Read Replies (1) \| Respond to of 149317

Lincoln's derivatives legislation has to do with the Agricultural Futures market (exempting it from the derivative regulations being proposed) which farmers have traditionally used to hedge their crop's price and lock it in as profitable while it is growing or before they plant it. A very practical application in Arkansas. But its also about preventing banks from in-house derivatives trading: Dodd will not offer amendment limiting Lincoln derivatives provision By Silla Brush - 05/19/10 12:58 PM ET Senate Banking Committee Chairman Chris Dodd (D-Conn.) will not push an amendment that would have limited a ban on banks trading derivatives in-house. Dodd had filed an amendment Tuesday that would have significantly limited a provision backed primarily by Senate Agriculture Committee Chairwoman Blanche Lincoln (D-Ark.). Instead of the outright ban, Dodd's amendment would have required a study, a 2-year delay in implementation and the possibility that regulators could drop the ban entirely. Kirstin Brost, spokeswoman for Dodd, said Wednesday the senator would not offer the amendment. thehill.com