Sen. Debbie Stabenow is urging the nation’s chief financial regulators to implement the Wall Street Reform and Consumer Protection Act. Stabenow, chairwoman of the U.S. Senate Committee on Agriculture Nutrition and Forestry, said at a recent oversight hearing that failures of firms like Peregrine Financial Group and MF Global, as well as trading losses at JP Morgan and the ongoing LIBOR scandal, all emphasize the need to implement the bill, which was passed by Congress more than two years ago.

“Many derivatives are still trading in the dark and some financial institutions are still taking risks that threaten our economy,” she said. “We need these markets to have integrity and market participants need certainty so they can plan for compliance and make business decisions for the coming months and years. Businesses, farmers and ranchers need to know these markets are safe for trading and hedging risk. And American families need to know their jobs aren’t going to disappear - again - because of excessive risk-taking by a reckless few."