Senator Chris Dodd (D - Lame Duck) introduced a bill today "that would result in the most sweeping overhaul of financial regulations since the Depression." While the NY Times says, "Democrats Appeal Across the Aisle on Financial Overhaul" I am just too cynical to believe that whatever is in the current proposal will look anything like the final product. In fact, if I were advising the senior executives of the fine bank I work for (think about that for just a second and see if it doesn't make you shudder uncontrollably) I'd suggest we save a buttload of money on lobbyists and just let nature take its course on this one cuz if we've learned anything from the whole health care debate, there isn't much chance anything of substance will come out of this effort. (This unsolicited political rant is brought to you by our good friends at Chantix. Chantix: When you need to quit smoking but still want the thrill of something that might kill you!")
And if you want a quick summary of what's in the bill, here ya go: "Blah, blah, blah, blah, blah."