Daily Archives: May 16, 2010

Two key Democratic senators offered a narrow path for compromise over the weekend after banks pleaded with regulators and clients to help overturn provisions of a financial regulation bill they say will rock markets.

Chris Dodd, Senate banking committee chairman, and Blanche Lincoln, chairman of the agriculture committee, told the Financial Times there was room to negotiate on a proposal that would force banks to spin off their swaps desks. Financial regulation reform is entering its final week in the senate, and there is a frantic lobbying effort to change parts of the bill before Barack Obama, US president, signs it into law and claims his second big legislative victory after healthcare reform. Read more