Senate Agriculture Committee Approves Derivatives Bill

The Senate Agriculture Committee voted 13-8 to approve a bill that would require tough regulation of the derivatives market.  Charles Grassley was the lone Republican to vote in favor of the bill.  The bill would require most derivatives to be traded on a public exchange and cleared through a third party.  It would also require big banks to put their derivatives trading operation in a separate subsidiary.

NYTimes, Senate Panel Approves Tougher Rules on Derivatives

WSJ, Senate Panel Approves Derivatives Bill