“Those looking for clear winners and losers after the conference committee struck a historic final agreement early Friday on regulatory reform legislation are bound to be frustrated.
For every agency or industry participant that appeared to gain in the bill, there was a significant downside, while those who arguably emerged bruised and battered after the epic deliberations narrowly avoided an even worse fate.
The Federal Reserve Board, for example, which will gain a host of new powers, now faces a task that many would consider impossible: preventing the next crisis. Meanwhile, the largest banks, which were the targets of just about every provision of the legislation including a tax added in the final hours of debate, escaped the harshest measures designed to cripple or break them up.” Read more.
Joe Adler and Cheyenne Hopkins
Insurance Networking News, June 25, 2010.
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