Treasury official defends derivatives rules

04/20/2011 | FinancialCAD (Canada)

Deputy Treasury Secretary Neal Wolin said the White House has no intention of backing down on the Dodd-Frank Act. Derivatives traders oppose the financial regulatory overhaul, but Wolin defended the effort of regulators and policymakers. "We needed reform because, ultimately, a fragile system benefits no one," he said.

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FinancialCAD (Canada)

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