Dems at Impasse on Derivatives Issue

House and Senate Democrats still appear to be at an impasse over the regulation of derivatives. Speaker Pelosi actually met with Sen. Lincoln to convince her to loosen the language in the bill. But Lincoln refused to budge.

This does leave us with the paradoxical situation of Lincoln standing firm on the more progressive position and Pelosi trying to get her to allow some softening of the language. Pelosi of course appears mainly to be responding to the demands of Democrats from New York.