| Why did Spencer Bachus, chairman of the Financial Services Committee, introduce legislation to delay the regulation of derivatives? Says, Nocera, "You would think Bachus would want these regulations in place as quickly as possible given the pain his constituents are suffering,' and the collapse of Jefferson County due to the derivative disaster. "Yet, last week, along with a handful of other House Republican bigwigs, he introduced legislation that would do just the opposite: It would delay derivative regulation until January 2013." |
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