1) The Office of Congressional Ethics (OCE) opened a preliminary probe into the fundraising activities of eight lawmakers, according to The Hill. The focus of the inquiry appears to be fundraising around the financial reform package. Seven of the eight lawmakers who have been asked to turn over documents sit on the House Financial Services Committee. Three of the lawmakers are currently sitting on the financial reform conference committee.

2) Bank lobbyists keep losing battles in Washington as they fight on too many fronts. The New York Times reports that the ‘Volker Rule,’ barring banks from trading from their own accounts, is now off the radar as lobbyists focus on other areas of the financial reform.

3) The House Financial Services Committee site has a list of proposed changes to the sections of the base text that will be discussed today.

4) Multiple articles today on Sen. Blanche Lincoln’s derivatives language from The Atlantic, Washington Post and Wall Street Journal.

5) Flowing Data puts together a nice infographic showing how oil disperses and decomposes in water.