"Treasury Secretary Timothy Geithner said Wednesday that Wall Street and large banks are spending “a huge amount of money to erode, weaken, walk back” the Dodd-Frank financial overhaul law that was enacted last year. He called on Congress not to weaken or delay the new rules.
His comments came in response to questions at a House Small Business Committee hearing. Bank and business groups have opposed many new parts of the law, including the appointment of a new consumer-protection regulator and regulations tied to the exotic financial instruments called derivatives..."
at http://blogs.wsj.com/washwire/2011/06/22/geithner-big-banks-spend-huge-amount-to-erode-dodd-frank-law/?mod=WSJBlog
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