April, 23, 2010

If you were to listen to the banking industry, you'd think that the financial reform bill will kill all lending activity, then once it's dead and buried, dig it up and kill it again.In reality, however, the proposed banking reforms are relatively mild, lending remains a profitable business, and bank stocks still have several good years in front of them.

Sponsored by Sen. Christopher Dodd, D-Conn., S. 3217 is the name of the financial reform bill up for consideration by the Senate. (You can track the bill's progress, and read it yourself, at www.govtrack.us). Financial reform legislation in the Senate and House was spurred by the credit crisis of 2008, which saw a horrifying parade of gargantuan financial catastrophes. Investment banks Bear Stearns and Lehman Bros.

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