White House cool to derivatives ban - Carrie Budoff Brown
I am all for a ban on derivatives. Far more risk than worth there for the general health of the economy. Generating fictitious capital can only lead to more problems.
Top administration officials declined Wednesday to reject — or embrace — a controversial proposal in the Wall Street reform bill that would force big banks to spin off their derivatives operations, a cool reception that suggests the provision might be expendable to the White House.