Happily, I've got some dribs and drabs of online access here on the Hill, so I can mention that the conference committee finished work on financial regulation in the wee hours of the morning. No one has the final text yet, and so the summaries are a bit early, but here's one from The Washington Post, here's a breakdown of provisions from the Wall Street Journal, and here's some commentary from Tim Fernholz.
Procedurally, the conference report will still need to be ratified by the House and Senate. It can't be amended, but it can be filibustered. That's why, for instance, Scott Brown got his way on permitting banks to invest up to 3 percent of their capital in private equity and hedge funds.
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