Sen. Blanche Lincoln gets tough with Wall Street

I’m impressed.

For the real story, check out this piece by Paul Blumenthal at Sunlight Foundation:

The
final piece of the financial regulatory reform puzzle is about to come
into place as Sen. Blanche Lincoln released language last Friday that
would impose rules on the unregulated world of over-the-counter
derivatives trading. Lincoln’s bill, the Wall Street Transparency and
Accountability Act, is more far reaching than proposals from both the
Obama administration and the House of Representatives. This comes as
somewhat of a surprise from the moderate and previously bank-friendly
senator who has benefited from finance industry contributions in her
post as chair of the Senate Agriculture Committee.

Disclaimer: Since Sunlight is the big deal for government accountability and transparency, I joined their board.