{"id":5958,"date":"2010-06-15T17:56:36","date_gmt":"2010-06-15T22:56:36","guid":{"rendered":"http:\/\/blogs-devl.bu.edu\/bunow\/?p=5958"},"modified":"2011-01-20T14:06:02","modified_gmt":"2011-01-20T19:06:02","slug":"derivatives-amendment-showdown","status":"publish","type":"post","link":"https:\/\/blogs-devl.bu.edu\/bunow\/2010\/06\/15\/derivatives-amendment-showdown\/","title":{"rendered":"Derivatives amendment showdown"},"content":{"rendered":"<p><img loading=\"lazy\" class=\"alignleft size-thumbnail wp-image-5959\" src=\"http:\/\/blogs-devl.bu.edu\/bunow\/files\/2010\/06\/Wall-Street-sign-150x150.jpg\" alt=\"BUSINESS-US-FINANCIAL-ACCOUNTING\" width=\"105\" height=\"105\" \/>Enemies on all sides are coming down on <a href=\"http:\/\/www.arkansas.com\/\">Arkansas<\/a> Democratic U.S. Senator <a href=\"http:\/\/lincoln.senate.gov\/\">Blanche Lincoln&#8217;s <\/a><a title=\"amendment\" href=\"http:\/\/www.nytimes.com\/2010\/05\/16\/us\/politics\/16derivatives.html?scp=3&amp;sq=derivatives&amp;st=cse\" target=\"_self\">amendment <\/a>to the regulatory reform bill that would rid banks of their lucrative derivatives business which played such a huge rule in the 2008 financial crash.\u00a0 <a href=\"http:\/\/bu.edu\/law\">Law <\/a>Professor <a title=\"Cornelius Hurley\" href=\"http:\/\/www.bu.edu\/law\/faculty\/profiles\/bios\/banking\/hurley.html\" target=\"_blank\">Cornelius Hurley<\/a>, director of the <a title=\"Morin Center for Banking and Financial Law\" href=\"http:\/\/www.bu.edu\/law\/morincenter\/\" target=\"_blank\">Morin Center for Banking and Financial Law<\/a> and a former counsel to the <a href=\"http:\/\/www.federalreserve.gov\/\">Fed Board of Governors<\/a>, feels that the only problem with the amendment is that it doesn&#8217;t go far enough to drive &#8220;toxic&#8221; derivatives out of the bank-holding company temple entirely.<\/p>\n<p><em>\u201cBy lodging this casino activity in bank holding company affiliates she runs the risk of the Fed doing in the next crisis exactly what it has done in this one, namely waiving the rigid rules that are supposed to separate banks from their holding company affiliates.&#8221;<\/em><\/p>\n<p>Contact Cornelius Hurley, 617-353-5427, <a href=\"mailto:ckhurley@bu.edu\">ckhurley@bu.edu<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Enemies on all sides are coming down on Arkansas Democratic U.S. Senator Blanche Lincoln&#8217;s amendment to the regulatory reform bill that would rid banks of their lucrative derivatives business which played such a huge rule in the 2008 financial crash.\u00a0 Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and [&hellip;]<\/p>\n","protected":false},"author":114,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4491],"tags":[2843,3169,2819,176,2935,1918,589,957,577,1286,2936,3078],"_links":{"self":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/5958"}],"collection":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/users\/114"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/comments?post=5958"}],"version-history":[{"count":7,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/5958\/revisions"}],"predecessor-version":[{"id":7705,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/5958\/revisions\/7705"}],"wp:attachment":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/media?parent=5958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/categories?post=5958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/tags?post=5958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}