Bank Shot At Leach
The banking industry thought it would finally win entree into the securities business this year, when Representative Jim Leach (R-Iowa) replaced the irascible Henry B. Gonzalez (D-Tex.) as chairman of the House Banking Committee. But now industry lobbyists are griping about Leach's lackluster performance. They blame him for drafting a reform bill with so many restrictions to appease opponents that most bankers no longer care whether the bill passes.