The bill that continues to evolve from the Congressional conference committee is far below what was expected when that committee first convened. The issue cited in this article is but one example. Wall Street very quietly has managed to purchase access to this process and is guiding it accordingly.
I suppose it will be interesting to see if, in the end, any Republican support is in fact forthcoming, after change upon change has already been made to satisfy their concerns. If so and the bill passes, then despite it all it will be a significant step forward and will tighten regulation. If it fails reformers will have thrown away a chance to present a clear vision to the voters about what the sides are and what is at stake.
Perhaps it will end up like the health care bill in which dozens of (mostly bad) compromises were made in a vain attempt to attract bipartisan support.
