“It’s Not Over Until It’s in the Rules”

The NY Times offers this report, which begins: “Now for the heavy lifting. Having passed the Dodd-Frank Act earlier this summer, the bill that aspires to reorder our financial universe in the wake of the most serious economic crisis in generations, Congress has moved on to other matters. Regulators are left to write the rules that will make financial reform a reality — or not — and are beginning that laborious process.”

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