Wall St reform must address derivatives: Biden

WASHINGTON (BestGrowthStock) – Vice President Joe Biden said on Tuesday that financial regulatory reform must bring new transparency to the way that derivatives are treated on Wall Street.

“It (reform) must block banks from steering clients toward a pit of toxic investments with one hand while betting against those very investments with the other hand,” he said in a speech in Washington.

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(Reporting by Caren Bohan, Editing by Sandra Maler)

Wall St reform must address derivatives: Biden