{"id":6023,"date":"2010-06-21T12:37:05","date_gmt":"2010-06-21T17:37:05","guid":{"rendered":"http:\/\/blogs-devl.bu.edu\/bunow\/?p=6023"},"modified":"2011-01-20T14:04:48","modified_gmt":"2011-01-20T19:04:48","slug":"financial-regulatory-reform-showdown","status":"publish","type":"post","link":"https:\/\/blogs-devl.bu.edu\/bunow\/2010\/06\/21\/financial-regulatory-reform-showdown\/","title":{"rendered":"Financial regulatory reform showdown"},"content":{"rendered":"<p><img loading=\"lazy\" class=\"alignleft size-thumbnail wp-image-6024\" src=\"http:\/\/blogs-devl.bu.edu\/bunow\/files\/2010\/06\/stock-market-board-150x150.jpg\" alt=\"stock market board\" width=\"105\" height=\"105\" \/><a href=\"http:\/\/www.house.gov\/\">House<\/a> and<a href=\"http:\/\/www.senate.gov\/\"> Senate<\/a> conferees hope to wrap up this week the\u00a0<a title=\"final version\" href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2010\/06\/21\/AR2010062100207_pf.html\" target=\"_blank\">final version <\/a>of financial regulatory reform legislation to send to President Obama, with chairmen <a href=\"http:\/\/www.house.gov\/frank\/\">Barney Frank<\/a> and <a href=\"http:\/\/dodd.senate.gov\/\">Chris Dodd<\/a> delicately trying to compromises without losing votes for the overall package.\u00a0 What do about the trading of derivatives &#8211; the complex financial packages which helped sink the economy &#8211; remains up in the air.\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=\"_self\">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>, says the proposal currently in the Senate version but objected to by both the House negotiators and the White House, wouldn&#8217;t be the best for taxpayers fearing another bailout but would be better than nothing.<\/p>\n<p><em>&#8220;If derivatives trading is such a socially useful and profitable activity ($23 billion in revenue among the five banks that dominate the market) why can\u2019t it exist outside of bank holding companies? <\/em><em>The answer to the question is that it could exist in a different, nonbank setting, but, without the backing of the taxpayers, the activity would have to shed its casino-like features.&#8221;<\/em><\/p>\n<p>Contact \u00a0Cornelius Hurley, 617-353-5427, <a href=\"mailto:ckhurley@bu.edu\">ckhurley@bu.edu<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>House and Senate conferees hope to wrap up this week the\u00a0final version of financial regulatory reform legislation to send to President Obama, with chairmen Barney Frank and Chris Dodd delicately trying to compromises without losing votes for the overall package.\u00a0 What do about the trading of derivatives &#8211; the complex financial packages which helped sink [&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":[2890,2819,3199,2935,2889,1918,957,2851,1286,3172,2846,2936,1759,1974],"_links":{"self":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/6023"}],"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=6023"}],"version-history":[{"count":7,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/6023\/revisions"}],"predecessor-version":[{"id":7696,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/6023\/revisions\/7696"}],"wp:attachment":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/media?parent=6023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/categories?post=6023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/tags?post=6023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}