WASHINGTON — Senate Agriculture Committee chairman Blanche Lincoln and other Democrats contend it’s necessary to impose a fiduciary duty on dealers that act as swap ­counterparties to state and local governments because some of them have misled municipalities into entering swaps they didn’t understand.

Asked about the provision in her bill to regulate derivatives, which imposes a fiduciary duty on dealers who pitch, advise, or enter into swaps with localities and pension funds, the ­Arkansas Democrat said: ­“Maybe you ought to ask the people of ­Alabama,” a reference to the muni-related scandals in Jefferson County.

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