How Wall Street kills financial reform rules (Fortune)

By | June 7, 2011

OTC derivative reform rules are going to be late.  I’m not sure whose fault that is or even if its bad or good.  But the politics in DC are generally unproductive in trying to find the right market structure, and the industry is right in pushing back – not to kill Dodd-Frank altogether, but because the operational complexities of implementing the proposed rules are becoming pretty clear.  Bottom line, it needs to be done slowly and carefully or things could get really screwed up.

“All of it is just political wrangling, most of it will go nowhere” says Kevin McPartland, an analyst at the Tabb Group. “Everybody is just trying to make a stand and put their position on the record, but in the end it’s not really going to have any impact.”

Read the full story at Fortune Magazine

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