Sens. Dodd, Lincoln strike deal on strict derivatives rules

Senate banking committee Chairman Christopher Dodd, D-Conn., and Senate Agriculture Committee Chairwoman Blanche Lincoln, D-Ark., reached an agreement that could force banks to spin off their derivatives-trading operations. The Obama administration has voiced concern that proposed rules would consolidate derivatives trading among only a handful of powerful firms. Under the proposal, banks that keep their derivatives-trading desk would be ineligible for federal aid from the Federal Reserve and the Federal Deposit Insurance Corp.

http://www.nytimes.com/2010/04/26/business/26regulate.html?ref=business