America's financial reforms will do little to change the industry, according to respondents to our web poll last week. With bills in both the House and Senate, America's lawmakers are devoting considerable time and effort to fixing the financial industry, but an overwhelming number of our readers believe their efforts will be in vain.
The reforms are largely aimed at investment banks and would introduce stricter disclosure standards for derivatives positions and bigger capital cushions, as well as give the government authority to take over failing banks and break them up.
Some banking industry bodies are opposing the reforms, but investors aren't paying much attention to the threat. The sector has dipped on days with...
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