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Banks 'Dodged a Bullet' as Congress Dilutes Rules

Banks 'Dodged a Bullet' as Congress Dilutes Rules 25 Jun 2010 Legislation to overhaul financial regulation will help curb risk-taking and boost capital buffers. What it won’t do is fundamentally reshape Wall Street’s biggest banks or prevent another crisis, analysts said. A deal reached by members of a House and Senate conference early this morning diluted provisions from the tougher Senate bill, limiting rather than prohibiting the ability of federally insured banks to trade derivatives and invest in hedge funds or private equity funds. [Banks dodging bullets - what a shame!]