Financial reform

David Leonhardt has some sensible comments on how to strengthen the financial reform bill. Financial reform is a rare example of legislation being improved as it passes through the Senate. As further evidence that the Senate liberals are serious about reform, the American Banker has a story headlined: Democrats Reg-Reform Conference Choices Bode Ill for Banks. Senate Democrats on the committee include Tom Harkin, Chris Dodd, Patrick Leahy, Tim Johnson, Blanche Lincoln, Chuck Schumer, and Jack Reed. Harkin, Dodd, Leahy, and maybe Schumer provide some real liberal firepower. But a bill is not expected to reach President Obama until July 4. That gives banks an awful lot of time to do some damage.