Senator Seeks to Limit Banks’ Role in Derivatives
By Cyrus SanatiPublished: March 31 2010 NYT Dealbook
Senator Sherrod Brown, Democrat of Ohio, is seeking to restrict the Wall Street banks' ownership of clearinghouses for over-the-counter derivatives. Under his proposed amendment to the financial overhaul bill, the large broker-dealers could be mostly shut out of this potentially lucrative business, raising concerns as to where liquidity would come from to clear the huge inflow of O.T.C. trades expected to hit the open market in the near future.
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