Bair: Congress won't pass regulatory reform this year

10/7/2009 | Bloomberg

Congress needs more time to consider and come to agreement on key proposals of regulatory reform for the financial system, meaning work on the ambitious overhaul won't be finished this year, according to Federal Deposit Insurance Corp. Chairwoman Sheila Bair. "I really don't think anything is going to happen this year, certainly not a bill becoming law," she said. "I think we'll see a lot of activity hopefully in the first quarter of next year."

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