Quick Reactions: Senate Passes Financial Reform

After a whirlwind of amendments and parliamentary parrying, the Senate has passed it's version of reform of the regulations of the financial sector. Some early reactions:
  • Next step: conference committee to combine the Senate bill with the House version.
There's a lot to like in the Senate bill (including reasonable consumer financial protection and Say on Pay rules) and what emerges from the conference committee is likely to go a long way to reigning in some of the excesses of finance. However, there is a lot that both the House and Senate did not address.
The real next next step cut finance down to size.

 


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