Monday, February 8, 2010

DC Insiders Say New Financial Regulation May Yet Pass in 2010

According to a new poll, 76% of Washington insiders say financial regulation will head to desk of President Obama in 2010. The House in December passed a wide-ranging package of regulations. Senate Banking Committee Chairman Dodd said Friday bipartisan negotiations on his panel reached an impasse and that he would draft overhaul legislation by the end of February. See more poll results from The Hill and comments posted there.

Meanwhile WSJ reports that Group of Seven (G-7) financial leaders have yet to reach a consensus on how to overhaul regulation of their financial sectors.

G-7 has become overshadowed by the larger Group of 20, which also represents emerging economies such as China, India and Brazil. G-7 financial leaders said they would continue meeting in a more informal fashion that won't include release of cooperative statements.

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