Here’s a glimpse of sunshine in the mess of an economy that we’ve been going through since 2008: HR 5159 / S 3733.
It’s 20 pages long and reasonably understandable. It breaks down to:
- Strong limits to mark to fantasy and off balance sheet vehicles.
- Strong limits to the size (as a percentage of GDP) and leverage of banks and financial institutions.
- No obvious loopholes (but then, IANAL).
Consider contacting your representative and senator about it. In particular, remind them to resist any bank lobbyists’ efforts to add loopholes in there.