The financial overhaul bill that's before Congress will vastly expand the government's authority over what banks can and cannot do. The bill would affect the way mortgages are sold, how credit card companies charge businesses and consumers, and the way banks can invest. Host Guy Raz talks with Sen. Blanche Lincoln, an Arkansas Democrat, about her efforts to restrict banks from trading in derivatives -- the kinds of risky trades that many argue contributed to the housing crisis. In the end, under intense pressure from fellow Democrats and the White House, Lincoln agreed to a compromise.
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Full story at http://www.npr.org/templates/story/story.php?storyId=128133672&ft=1&f=1006
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