Rep. Barney Frank, chairman of the House Financial Services Committee, said on our air that he would support bank rule changes—but only over a longer time frame, which he said would be in the range of "three to five years."
This is a major statement and completely changes the tenor of the reform conversation.
The S&P 500, which had been sitting near the lows of the day, rose about 5 points on that news...though still down 15 points on the day.
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