Tom Usher wrote or added | This is all very weak! It's pathetic, in fact. You will note that the meat comes at the very end of the article long after most people will have stopped reading.
'Under the agreement banks would only spin off their riskiest derivatives trades. Banks get to keep some of their lucrative business based on trades in derivatives related to interest rates, foreign changes, gold and silver. They could even arrange credit default swaps, the notorious instruments blamed for the meltdown, as long as they were traded through clearing houses. Banks also would be allowed to trade in derivatives with their own money to hedge against market fluctuations.
'Negotiators also limited the ability of banks to carry out their own high-risk trades or invest in hedge funds and private equity funds.
'Bank holding companies that have commercial banking operations would not be permitted to trade in speculative investments. But negotiators agreed to let bank holding companies invest in hedge funds and private equity funds, setting an investment limit of no more than 3% of their capital. There are no such conditions on banks now."