The financial reform bill is a "disaster," will cause a "huge" contraction of credit and push...

|By:, SA News Editor

The financial reform bill is a "disaster," will cause a "huge" contraction of credit and push some derivatives activity offshore and out of U.S. control, Sen. Judd Gregg says. He fears the new consumer protection agency will make lending decisions based on "social justice purposes instead of safety and soundness purposes."