One of President Obama’s most influential advisers has softened his position on derivative reform, suggesting for the first time that he might be amenable to Sen. Blanche Lincoln’s plan to force major financial institutions to spin off their lucrative swaps desks. The development comes as members of Congress who back Lincoln’s plan push to preserve it as part of Wall Street reform legislation. But aides on the Hill who back the plan remain skeptical.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=125238