Today the House Financial Services Committee began its mark up of a bill intended to impose new regulations on the over-the-counter derivatives market — whose abuses, excesses and lack of regulation are largely seen as contributing to the financial crisis. While Rep. Barney Frank (D-MA) promised before the meeting that “everything” in the “derivative area will be forced onto an exchange” where they’d be traded openly and under the watch of regulators, pro-reform activists aren’t taking Frank at his word.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=136768