THE DO-NOTHING PRESIDENCY:

As Reform Takes Shape, Some Relief on Wall St. (ERIC DASH and NELSON D. SCHWARTZ, 5/23/10, NY Times)

The financial reform legislation making its way through Congress has Wall Street executives privately relieved that the bill does not do more to fundamentally change how the industry does business.

Despite the outcry from lobbyists and warnings from conservative Republicans that the legislation will choke economic growth, bankers and many analysts think that the bill approved by the Senate last week will reduce Wall Street’s profits but leave its size and power largely intact.