Republicans target regulatory overhaul
As the GOP prepares to seize control of the House in January, its members on the Financial Services Committee are vowing to reexamine the wide-ranging financial regulatory legislation passed earlier this year. Rep. Spencer Bachus (R-Ala.), the incoming committee chairman, said in an interview that Republicans want to revisit provisions that would require companies that use derivatives merely to hedge risks - such as an airline guarding against swings in fuel prices - to set aside more capital for those deals. Bachus said such "end users" did not contribute to the financial crisis and should not face the same restrictions as Wall Street firms that deal in more risky forms of derivatives.
Publication
Washington Post
Date
December 25, 2010
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