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The head of a key banking panel on Monday released a draft bill of sweeping regulatory changes aimed at warding off future collapses in the financial system.

Washington insiders are all pumped up by Sen. Chris Dodd's pending financial reform bill. They say that it seems to have a real chance to garner bipartisan support. Yippee! That sounds great on the surface, but ask yourself WHY it seems more popular than, say, Obama's health-care bill? Reason is that Dodd's dang thing's got no teeth! Sure the bill has a measure to create a consumer protection agency within the Fed, (even that's controversial) and it would ban bank execs from being on the New York Fed's board. Then there's the real torches and pitchforks stuff, but even here, the bill is fangless. The proposed bill would allow shareholders to have "advisory votes" (say what?) on executive pay.

Pound loses ground as the prospect of a hung parliament in the UK and concerns over the country's economic recovery weighs on sterling

The United States isn't in jeopardy of losing its gold-plated credit rating, though by one measure America is closer to the ratings-downgrade danger zone than Spain.

Published at 19:57 (GMT) 15 Mar

Published at 18:29 (GMT) 15 Mar Canadian domestic economic fundamentals are a significant factor in pricing FX, but the impact is not what it once was. In the past, monthly CPI; international trade, employment (arguable) and the BoC were the most significant factors for CAD traders to monitor. Financial market melt-down of 2007, CAD's main driving force has been the back and forth machinations in equity and commodity markets. Today's decline in CAD is a case in point. Friday's positive