Also, the sky is blue, Lebron James will never win a championship, and Chris Dodd is a cunt:

Wall Street is poised to score a victory in its efforts to beat back a crackdown on banks that trade the complex financial products known as derivatives.

On Tuesday, Senate Banking Committee Chairman Christopher Dodd, D-Conn., proposed a compromise change to the Wall Street reform bill that would water down a proposed ban on derivatives trading by many financial firms.

[...]

Under the changes proposed by Dodd, the swaps ban would be postponed while a council of regulators studies it and recommends to Congress whether the full ban or a partial ban should go forward.

If regulators decide the ban is a bad idea, they must come up with new minimum standards to guide banks about derivative trading. If regulators decide the ban is a good idea, the ban wouldn’t take affect for two years, according to the amendment.

The Senate will have to vote on the changes in coming days, but financial services and derivatives groups were breathing a sigh of relief on Tuesday.

“The proposed solution gives some breathing room to a heavy-handed provision that would have resulted in more risk in the system,” said Scott Talbott, senior lobbyist for the Financial Services Roundtable.

I wonder if Chris Dodd cups Wall Street’s balls when he’s gobbling Wall Street’s dick?

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Tags: Chris Dodd, Chris Dodd Loves Rich Cock, Financial Reform, Wall Street
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