Doesn’t sound like anyone is particular excited about the bill passed last week in the Senate. Even only half of the Senate (the Democrats) seems to like the final product. My comments in the article:
Some industry professionals believe Sen. Blanche Lincoln’s provision requiring banks to spin off their swaps desks will get kicked out when the bill is merged with the less restrictive House version in June. “It seems pretty widely believed that when they go to conference, the house will take it out,” said Kevin McPartland, a senior analyst at the TABB Group in New York told Derivatives Week.