Democrats Face Split on Derivatives Rules
(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.