Two efforts to regulate derivatives: one led by Collin Peterson; the other, by Blanche Lincoln

[brentspeak]

Guess which one will likely form the basis for whatever gets passed?

http://dealbook.blogs.nytimes.com/2010/04/01/the-fight-to-regulate-derivatives/

Behind the Fight to Regulate Derivatives

April 1, 2010, 12:41 am

With health care reform passed, Congress is set to again be consumed by how to overhaul financial regulation. But there’s one area that has been getting a pass: the regulation of derivatives.

Already lightly regulated, derivatives – including the likes of the now-notorious credit-default swaps — are now at the center of a largely behind-the-scenes fight involving various Washington agencies and Wall Street lobbyists. The market is huge: as of June 2009, the over-the-counter derivatives market’s notional outstanding amount totaled $604.6 trillion (PDF), according to the Bank for International Settlements.

snip

Still, others made efforts to fill in the regulatory gaps. In February of 2009, Representative Collin Peterson, the Minnesota Democrat who chairs the House Agriculture Committee, introduced legislation that would force derivatives transactions onto an exchange, a move championed by supporters as bringing standardization and transparency into a notoriously murky marketplace.

snip

Meanwhile, Senator Blanche Lincoln, the Democratic chairman of the Senate Agriculture Committee, has said that she will soon unveil her own derivatives legislation – something expected to be favorable to Wall Street.

[msongs]

1. wall street lobbyists will write the legislation and dems will claim it is true reform lololol nt

[SocialistLez]

2. I hate Blanche is my Senator

Most people in AR won't even pay attention this but I plan to post about this on my blog on the local news site.

I think she's going to get her tail whooped but I'm hoping it's by Halter.
As much as I'd love for John Gray, the Green Party candidate running for the Senate, to win...I don't see it happening.

[jaksavage]

3. How about

you have to own them to trade them.