Wall Street and Obama Gird for Game of Chicken on Dodd-Frank
- Warren vows to fight reform changes included in budget deal
- Industry looking to repeat last year's success on swaps easing
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President Barack Obama may have to decide whether it’s worth shutting down the government to protect tough rules for Wall Street.
Lobbyists for the biggest banks are trying to force the Obama administration into a game of chicken to see how far it’s willing to go to maintain industry reforms and some of the sweeping changes enacted in the Dodd-Frank Act of 2010. Despite Obama’s veto threats, they’re pushing lawmakers to include provisions that would roll back some of those changes in the end of year spending bill that has to be passed next month.