Senator Dodd Releases Proposal for Financial-Rules Overhaul

Senator Chris Dodd has released his proposal for the highly-anticipated financial-rules overhaul. Below are just a few highlights from the proposal:

• the bill will create a consumer watchdog housed at the Federal Reserve
  
• Dodd has proposed a "safe way" to liquidate failed financial firms
  
• seeking "tough" capital and leverage requirements
  
• aiming to make getting too big "undesirable"
  
• proposes that a council will be used to identify and address systemic risk
  
• targeting "loopholes" for hedge funds and OTC derivatives
  
• targeting mortgage brokers, payday lenders and ABS loopholes
  
• would give say on pay, nonbinding vote on executive pay

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