Financial Reform Bill to Move on to Conference

The Washington Post reported, "Nearly a year after President Obama laid out an 85-page wish list for reining in risk-taking on Wall Street, both chambers of Congress have delivered bills that closely follow his outline. Key Democrats vowed Friday to protect the measures' core provisions against a final offensive by financial industry lobbyists. Crucial differences between the two bills must be resolved in a House-Senate conference committee," and the "financial industry is gearing up for a major battle over provisions in the Senate bill that would force some of the nation's largest banks to give up a multibillion-dollar business in derivatives trading and could restrict the trades they make with their own funds."