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Wall Street Financial Reform Bill……Winners and Losers…..

Someone had to do the early talley……

This from Erra Klien over @ The Washington Post……

Winners

— Community banks: Exempt from the hefty regulatory fees assessed on larger banks and left mostly free of a new consumer watchdog bureau’s oversight.

— Hedge funds: Could reap a windfall if big banks are ultimately forced to spin off their derivatives-trading businesses.

— Derivatives exchanges: Mandatory clearinghouses for derivatives trades could make their expertise in the market for these securities more valuable and increase their business.

— Institutional investors: Gain greater say over the makeup of corporate boards.

Losers

— Community banks: Hit by restrictions on an investment commonly used to satisfy minimum reserve requirements.

— Big banks: Face new restrictions that could cut their profitability by barring them from trading with their own money and forcing them to spin off some lucrative trading operations.

— Credit card companies: Have far less power over fees charged to retailers on credit-card transactions.

— Consumer credit lenders: Pawnbrokers and payday lenders would be subject to greater scrutiny from the consumer protection watchdog.

— Ratings agencies: Face new legal liability if their judgments on the safety of investments turn out to be wrong.

May 22, 2010 Posted by | Counterpoints, Government, Law, Media, PoliticalDog Calls, Politics, The Economy, Updates | , | 9 Comments