Monday, January 03, 2011

Republicans may starve financial reform of cash | Reuters

A Democratic-controlled Congress pushed through the Dodd-Frank bank reform laws last year and regulators were counting on a big budget boost to police the $600 trillion over-the-counter derivatives market -- blamed for much of the excess behind the 2007-2009 financial crisis.

But the last Congress failed to deliver on the funding, and that will be even harder to obtain with Republicans vowing to cut spending as they take control of the House of Representatives and boost their rolls in the Senate."

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