Sen. Lincoln to propose banks wall off derivatives trading

04/15/2010 | Bloomberg

Sen. Blanche Lincoln, D-Ark., is planning to introduce a measure that would force major financial institutions to separate their derivatives trading businesses from their commercial banking operations, according to a congressional aide. Banks, such as JPMorgan Chase and Goldman Sachs, are already coming out in opposition to Lincoln's proposal. The bill, which is said to be tougher than the proposal from President Barack Obama, would need to be approved by the Senate panel and then worked into the sweeping regulatory reform legislation.

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