April 26th, 2010
11:24 AM ET
4 years ago

Senate Democrats in deal on risky trades

Sens. Blanche Lincoln and Chris Dodd have hammered out a deal that would impose new rules on the complicated financial bets that fueled the mess of the past three years.
Sens. Blanche Lincoln and Chris Dodd have hammered out a deal that would impose new rules on the complicated financial bets that fueled the mess of the past three years.

Washington (CNNMoney.com) - Two key Democratic senators have hammered out a deal that would impose new rules on the complicated financial bets that fueled the mess of the past three years, a congressional aide said Monday.

Details on the deal between Agriculture panel chairwoman Sen. Blanche Lincoln, D-Ark., and Banking panel chief Sen. Christopher Dodd, D-Conn., were scarse. But one aide told CNN that the deal maintained a provision that Lincon's committee passed last week that would force banks to spin off their swaps desk, or the parts that deal in making such risky bets.

Last week, one Republican - Sen. Chuck Grassley, R-Iowa - joined Democrats in passing the bill, which could signal broader GOP support for the general regulatory overhaul effort in coming weeks.

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Filed under: Blanche Lincoln • Chris Dodd • CNNMoney.com • Financial Reform
soundoff (30 Responses)
  1. dan smith

    Dodd is just another democrat crook. Putting him in charge of anything beyond dog catcher is lunacy.

    April 26, 2010 02:03 pm at 2:03 pm |
  2. Fitz in Texas

    These crooks are part of the problem.....I wouldn't let either of them help me across the street, well, unless I wanted to get hit by a car.

    April 26, 2010 02:07 pm at 2:07 pm |
  3. jeff jackson, alabama

    Has everybody just completely forgotten
    that Dodd oversaw the Freddie Mac loan
    distributions to people who could not afford
    the homes they were buying. He enforced
    the activity that caused our financial problems.
    He also made fun of other senators who
    questioned those loans. He said the system
    did not need fixing because it wasn't broke.
    Are so many people in America that brain dead ???
    ???????????????

    April 26, 2010 02:21 pm at 2:21 pm |
  4. Carl

    Why in the world would America want to entertain legislation from the senator whose primary responsibility was to oversee the financial sector, and whose performance of that responsibility led to the greatest economic collapse since the great depression? Throw Dodd out, and THEN look at reform legislation!

    April 26, 2010 02:33 pm at 2:33 pm |
  5. haren

    For some folks in this tickers still does not satisfy with 8 million people who lost their job.
    They are still praising republican for taking us to this mess created by none other than republican.
    If bank did not check the credit of people whom they are giving loan is not mistake of Freddie Mac or Fannie may created by democrats.
    Don't forget democrats alway work for middle class people who needs help.

    April 26, 2010 02:36 pm at 2:36 pm |
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