A lot of news out of our Capital Markets Summit yesterday, here are just a few clips:

A key lawmaker on Wednesday said he supports reinstating the "up-tick" rule, a regulation removed last year that allowed short sales only if a preceding trade boosted a company's stock price. "I think restoring the up-tick rule at a time like this would be a good idea," said Senate Banking Committee Chairman Christopher Dodd, D-Conn. at a U.S. Chamber of Commerce conference. (Marketwatch)

And don't think that the debate over executive compensation restrictions for firms that receive government assistance when a crisis arises has died down. According to JPMorgan Chase Chief Executive Jamie Dimon, it's not likely to harm his firm in the short run, but "over time, it could be more damaging." Dimon has a laundry list of other suggestions for regulatory overhaul. Among them: different rules for different financial products, the inclusion of hedge funds and private equity firms in the debate, fewer regulatory agencies, less flexibility in firms' accounting methods and the ability of companies to replenish their capital if their shares fall in value. (Forbes)

Mr. Dimon also said he saw “modest signs” of an economic recovery and endorsed a plan to create a systemic risk regulator for financial institutions. He said that he also supported mark-to-market accounting, but that banks may have applied the fair value rule “to a ridiculous point,” Reuters reported.  The mark-to-market accounting rule requires assets to be valued at market prices. The banking industry, which has been forced to write down billions of dollars’ worth of hard-to-value assets in illiquid markets, has pleaded for a suspension or modification of the rule. (NY Times)

More on topic:

• Letter to Congress yesterday on mark-to-market,
• More on Mr. Dimon from CNBC and Bloomberg,
• Tom Donohue's prepared remarks,
• Donohue's Fox Business interview on restoring confidence, and
• Donohue and Allstate chairman/CEO Thomas Wilson appeared on CNBC.