For some weeks now, US Senate and House conferees have been involved in a delicate, but sometimes bareknuckled, process of reconciliation. The Conference Committee, charged with reconciling differences between the version of the financial regulatory reform bill passed by the House of Representatives in December 2009 and the bill passed in late May 2010 by the Senate, has had to tackle quite a number of controversial, and often arcane, matters. All-encompassing reconciliation—at least one that brings about real consensus and leaves proponents of an initiative feeling elevated by having been able to be heard and having achieved lasting compromise—is elusive. We are often reminded that where there has been real reconciliation, one shouldn’t “keep score” about who got his or her way. We’ll confess we’ve been keeping score. Herewith is a brief scorecard on what we regard as some of the most significant issues considered by the Conference Committee to date. This is a summary only. Over the course of the next few days, more complete analysis will follow.
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