A mountain of labour producing a mouse. That's my judgement on the Senate bill on US bank reform. It's meant to convey to the public that Congressmen are being tough on banks without changing anything substantial on the ground. One of the things about the bill is that the details have to be filled in by the regulators later.
I wrote about this in my ET column but didn't get a chance to provide the link.
1 comment:
Volcker's rule and shifting derivatives to exchange will remove any hidden derivative linked risk from bank's balance sheet, would you like to comment on what more Senate could have done.
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