Financial reform package wouldn't change Wall Street much

The financial reform legislation might change how Wall Street does business, but it would hardly put Wall Street out of business. The measure that emerged from a House-Senate conference committee would push banks to make their trading in complex securities known as derivatives more transparent and to cut back on some of the risky trading that triggered the financial crisis. It would also give regulators new powers to oversee lightly regulated financial firms, including hedge funds and insurers. But though the legislation would put new limits on Wall Street banks, it wouldn't outright bar many of their activities–including rapid-fire stock and bond trading and the packaging of complex securities to hedge their investment bets.