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Is Lincoln Quietly Gutting Her Derivatives Plan?

June 15, 2010 - by Donny Shaw

Yesterday, Sen. Blanche Lincoln [D, AR] issued a "term sheet" that her spokesperson said sought to clarify the intent of her proposal, Sec. 716, to ban derivatives desks at bank-holding companies from accessing federal subsidies via the Fed discount window and FDIC insurance. Most discussion of the term sheet was focused on the two-year phase-in proposal and a somewhat ambiguous study that would be required, but looking it over myself, I think it may be more of a gutting than a clarification.

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