Barney Frank announced his conferees for the Wall Street reform bill Wednesday, and he made the important point that the focus on the specific names is a little misplaced. The views of the leadership, and the White House, and what can garner the requisite votes, will factor into the ultimate decisions as much as the specific conferees involved. Frank called his conferees “the agents of collective decision-making than autonomous deciders.”
|By: David Dayen Friday May 21, 2010 11:30 am|
I’ve written plenty about the potential derivatives loophole in the Senate Wall Street reform bill, which Maria Cantwell felt concerned enough about that she tried to block a cloture vote on the entire legislation (although she did give consent to waiving the Budget Act at the last minute, which also could have held up the bill). However, Cantwell’s name was not on the derivatives legislation that concerned her so. And her amendment had a co-sponsor who did not join Cantwell in protesting the vote until the concerns were met.
|By: David Dayen Thursday May 20, 2010 8:00 am|
Michael Greenberger, a professor at the University of Maryland School of Law and the former Director of the Division of Trading and Markets at the Commodity Futures Trading Commission under Brooksley Born is as knowledgeable about derivatives and their import as anyone involved in this debate. Greenberger believes that Sen. Maria Cantwell did the right thing in holding up cloture on the bill in order to tighten the language around trading and clearinghouses.