Senate Democrats secretly agree that Sen. Blanche Lincoln’s (D-AR) proposal to attempt to impose a complete separating on credit default swaps and credit providers (i.e. banks) makes no sense. But they’re too embarrassed to say so while Lincoln uses the proposal to wage a populist campaign for re-nomination against liberal Arkansas …
It makes a future market melt-down more likely. Today the Senate takes up Senator Blanche Lincoln’s amendment to regulate over-the-counter derivatives. The Lincoln bill is very, very bad, but don’t take out word for it, ask the Federal Reserve. Fed Staffers released a four page, seven point critique saying the …
