John Carney Mad About the Fight Over the Dodd-Frank Rollback
We already know that a provision to roll back the Dodd-Frank provision that forbid banks from booking their deriviatives in the the parts of their business that is insured by taxpayers. They would have to keep them in the portions of their business where losses were borne entirely by the bank and their shareholders. Elizabeth Warren led what Bloomberg called The Great Swaps Rebellion during the Cromnibus negotiations. And John Carney was peeved:
