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SW: →S.3217 Restoring American Financial Stability Act of 2010: - add section
Lincoln's toughest challenge regarding the derivatives provision is that it is only included in the Senate Finance Regulation bill, not the House version. <ref>John Carney, [http://www.cnbc.com/id/37598933/ "Blanche Lincoln's Victory May Kill Derivatives Limit in Financial Regulation Bill,"], "CNBC," June 9, 2010. </ref> "The banks have several strong allies on Capitol Hill when it comes to diluting the Lincoln provision. House Financial Services Committee chair Barney Frank is not in favor of the provision. Nor is Senate Banking Committee chair Chris Dodd. FDIC head Shelia Bair and Fed chief Ben Bernanke are also reportedly opposed." <ref>Id.</ref> In contrast, Senate Majority Whip Richard Durbin (D., Ill.) said Ms. Lincoln is now in a stronger position. "She returns as the chairman of the Agriculture Committee, running for re-election in November, which I think gives her a strong bargaining position." <ref>Michael R. Crittenden and Victoria McGrane,[http://online.wsj.com/article/SB10001424052748704575304575296700673194736.html?mod=WSJ_Markets_MIDDLETopNews "Win By Lincoln Rejuvenates Overhaul Effort,"], "Wall Street Journal," June 10, 2010.</ref>
Without Senator Lincoln's efforts in addressing derivatives in the financial reform bill, there would be no other similar action. Congress has talked about getting tough with banks, but 18 months later, nothing has been done. <ref>Alan Guebert, [http://columbustelegram.com/news/opinion/columnists/article_82698cc0-7d3b-11df-b5c3-001cc4c03286.html "Arkansas Senator has Mettle to Change Derivatives,"], "Columbus Telegram," June 21, 2010.</ref> 97% of all swaps continue to be traded by five major banks. <ref>Id.</ref> "Lincoln's amendment doesn't end the trading. It does, however, force it onto a "transparent" market so everyone knows who's trading what and at what price. Also, it would give regulators an unrestricted view of it for the first time and force derivative-trading banks to do so through an arm's-length subsidiary so the Federal Deposit Insurance Corp. (and you and I) aren't left holding the banks' empty bags again." <ref>Id.</ref>
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