Anger over watering down of US banking rules

Dec 11, 2014, 12:22 AM

"A giveaway to Wall Street" and "dangerous to taxpayers". That's how some senior Democratic politicians have been describing attempts to water down tough new rules on banking regulation, designed to prevent future huge government bailouts of banks. The rules appear to have been softened as part of a compromise between US politicians on a new 1.1 trillion dollar government funding bill, which will be voted on by the House of Representatives on Thursday, hours before existing money to run the federal government runs out. Supporters of the changes to bank regulation argue they're sensible - and banks will still be prevented from taking the most dangerous risks in the knowledge they'll be bailed out. Jon Bithrey talks to Nancy Zirkin from the Leadership Conference on Civil and Human Rights.