Opening Bell: 05.11.10

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Senators Seek Proprietary Trading Ban for Big Banks (WSJ)
"Taxpayers ended up holding the bag when those bets didn't pay off," Mr. Levin said, referring to the role of banks' proprietary trading in the recent financial crisis. The amendment has the backing of the Treasury Department and Senate Banking Committee Chairman Christopher Dodd (D., Conn.), which could make it more difficult for the banks to defeat.

Roubini: European Rescue Could Work (CNBC)
"Assuming hypothetically that the total financing needs for Portugal, Ireland and Spain were to be covered until 2012, the size of the package would need to be about 600 billion euros," Roubini, together with a team of economists, wrote on his web site RGE Monitor.

Did Big Bet Trigger Stock Swoon (WSJ)
Was Mr. Black Swan responsible for Thursday?

Jack Reed Wants Hedge Funds To Register (Politico)
“Hedge funds, private equity and venture capital funds have played an important role in providing liquidity to our financial system and improving the efficiency of capital markets. But as their role has grown so have the risks they pose. This amendment will shut down loopholes and provide the SEC with long-overdue authority to examine and collect data from this key industry,” Reed said in a statement.

Women, Power and the Challenge of the Financial Crisis (IHT)
Christine Lagarde: "It takes a great deal of willpower to direct the French economy, and, through my actions, to try to influence the decisions made by political authorities at the national and international level. I am not doing this for women, but as a woman I am, perhaps, more keenly aware of the damage that the crisis has done through greed, pride and a lack of transparency."

A Tale Of Adultery And Green Tractors (Reuters)
She said there's some tractor story she hasn't told me about: "Never try to sell a Chinese farmer a green tractor or roll out a flashy new design with a rounded hood in India. These are just some of the lessons that Agco Corp Chief Executive Martin Richenhagen has picked up in his 15 years selling farm equipment around the world."

Stewart: The Economy Got Fat-Fingered Shocker-- 2 In The Dow And 1 In The Nasdaq (CC)

If Greece Is Bear Stearns, Will the UK Be Lehman? (CNBC)
And who is Jimmy Cayne's roach clip?

Editorial: The Senate Has To Do Better (NYT)
The Times (rather presumptuously) presupposes the idea that the Senate isn't going to try and do worse.

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Opening Bell: 5.11.17

Tax reform is headed the way of the Comey; hedge fund traders probed for fibbing about bonds; porn star vs sharks, round two; and more.