Democrats Face Split on Derivatives Rules

June 24, 2010  |  

(Wall Street Journal) — Congressional Democrats scrambled Thursday to resolve a number of flashpoints in the financial-overhaul bill, as a fractious block of House Democrats threatened to upend the package. A central unresolved issue is over a provision backed by Sen. Blanche Lincoln (D., Ark.) that could force banks to spin off their derivatives businesses. Many Democrats from New York and several dozen business-friendly Democrats have said the provision needs to be removed.

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