Battle Lines Form Over Financial Regulatory Scheme

Law360, New York (June 17, 2009, 12:00 AM EDT) -- Now that the Obama administration has laid down the gauntlet in the form of an 88-page financial regulatory overhaul proposal, battle lines are already forming over the plan's most controversial provisions.

President Barack Obama on Wednesday described the sweeping financial regulatory proposal as “a transformation on a scale not seen since the reforms that followed the Great Depression.”

But now that the plan is largely in the hands of Congress, interest groups, lawmakers and legislative drafters have their work cut out for them, experts say, and...
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