A Xmas Present for the Banks From the Omnibus Bill |
| December 14, 2014 | December 2014 Bond Updates |
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Wall Street banks like Citigroup and JP Morgan Chase have flexed the power of their influence to pressure Congress and the White House into a key change in the law that will allow the trading of risky financial derivatives in bank operations that are insured by the Federal Deposit Insurance Corp. This means the nation's largest banks have reversed a key section of the Dodd-Frank bill of 2010 that was meant to prohibit a federal government bailout of swaps entities. |
| View more at: http://www.forbes.com/sites/robertlenzner/2014/12/13/wall-street-reverses-ban-on-trading-derivatives-backed-by-uncle-sam/ |
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