The US Treasury Department’s radical plan to revolutionise financial markets is deemed dead on arrival. Nate Raymond reports
Who says lawyers aren’t an excitable bunch? On Friday, 29 March, the US Department of the Treasury released a 22-page summary of a radical plan to revolutionise a wide swathe of financial markets. Lawyers sprang into action. Many spent the weekend dissecting the summary and answering calls from panicked clients. Of course, the promise of sweet, sweet billables made the loss of Saturday and Sunday a little more palatable.
