WASHINGTON D'Amato: Derivatives Legislation Not Needed Presiding over his first hearing as chairman of the Senate Banking Committee, Sen. Alfonse D'Amato expressed concern about bank derivatives activities but reaffirmed his view that legislation is not needed.

Most lawmakers on the panel echoed the New York Republican's views. And banking and market regulators testified that they have all the power they need to supervise the use of derivatives adequately.

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