Thursday, January 29, 2015

Will Sen. Dodd's financial service law do enough?

"It will be something much, much weaker"

Will Sen. Dodd's financial service law do enough?

Today "the leaders of the U.S. Senate are scheduled to roll out their latest Financial Regulatory Reform Bill. Some of their troops, disgusted, say it won't fix what's broken. 'It will be something much, much weaker,' Sen. Ted Kaufman (D., Del.) told me Friday.

"Kaufman and four other senators last week posted a bill that would force big banks to get out of the investment business by banning them from "high risk speculating," backing hedge and buyout funds, or betting against the debt they sell their clients." From my column in Sunday's print Philadelphia Inquirer here.

Joseph N. DiStefano
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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