You know, I liked the Wall Street bailout

[Cha]

4. It sucked.. I know the President didn't like parts of it.. but, some didn't suck as much.. like..

Did cromnibus kill Wall Street reform? (updated)

Now...if all you care about is sticking it to Wall Street, the current battle among Democrats over this bill might be worth having. But - if you also care about enforcing the critical aspects of Wall Street reform, Obamacare, the President's actions on immigration, early childhood education, climate change, job growth, and national security - all this hysteria is simply a distraction.

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UPDATE: I just learned that the "push-out" rule that is eliminated in the cromnibus was the brainchild of former Senator Blanche Lincoln. So excuse me if I'm a little skeptical about how important it is. Apparently it doesn't affect all derivative swaps - not even most of them.

In brief, the Pushout required federally insured banks to move-“push out”-some swaps dealing activities to separate subsidiaries that do not have access to federal deposit insurance. This does not apply to all swaps, mind you. Not even to the bulk of them (interest rate swaps, many CDS). But just to commodity derivatives (other than gold), equity derivatives, and un-cleared CDS.

MOre..
http://immasmartypants.blogspot.com/2014/12/did-cromnibus-kill-wall-street-reform.html