May 18th, 2010
09:17 PM ET
11 years ago

Derivatives ban may be softened

Washington ( - Wall Street is poised to score a victory in its efforts to beat back a crackdown on banks that trade the complex financial products known as derivatives.

On Tuesday, Senate Banking Committee Chairman Christopher Dodd, D-Conn., proposed a compromise change to the Wall Street reform bill that would water down a proposed ban on derivatives trading by many financial firms.

Sen. Blanche Lincoln, D-Ark., has been a driver of the push on the swaps ban. Her measure ranks among the top hangups threatening final passage of the overall reform bill.

Lincoln was in Arkansas on Tuesday facing a tough primary election. Her spokeswoman said she would fight to keep the ban.

"Sen. Lincoln is fully committed to her provision and will fight efforts to weaken it," said Lincoln spokeswoman Katie Laning Niebaum. "Her proposal has received bipartisan support and she will defend it on the Senate floor."

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Filed under: Blanche Lincoln • Chris Dodd • Financial Reform • Senate • Wall Street
soundoff (2 Responses)
  1. A Kickin' Donkey

    You'd better not soften. If Tuesday's election is any indication, voters expect you to stand for something other than muddling the middle.

    May 18, 2010 10:17 pm at 10:17 pm |

    Another Democrat will bite the dust. ONE MUST REMEMBER TO RUN UP A FOREIGN FLAG ON AMERICAN SOIL IS AN, "ACT OF WAR". If it continues get ready for another far more vicious that the one before CIVIL WAR. We are ready to keep and cleanout America. It is for you to guess who we are. But we are solidarity and prepared. The time will come to strike. It is awfully close. If you hear and not a citizen then I'd be nervous. If you're here and dodn't know whether you're an American or not, be careful. When one isist on being called somethin American then he is a walking target.

    May 18, 2010 10:37 pm at 10:37 pm |