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Tag >> consumer proection agency
Jun 23
2010

Why the financial reform bill will accomplish almost nothing

Posted by annearf in Volcker RuleIn compliancefinancial reformderivativescredit default swapsconsumer proection agency

annearf

The members of Congress in charge of creating a financial reform bill recently decided to remove majority voting for electing board members from the legislation and to include only a diluted version of proxy access for nominating board candidates, as my colleague Stephen Taub just discussed .

That latest cop-out underscores an increasingly obvious truth about this legislation: It's not going to change the financial system significantly nor will it do much to prevent another major crisis.

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