Thursday, May 20, 2010

Wall Street Reform Passes the Senate

The U.S. Senate tonight passed the financial reform bill 59 to 39. The New York Times reports that President Obama directly tied Wall Street reform to the recession from which we are still recovering:
“The recession we’re emerging from was primarily caused by a lack of responsibility and accountability from Wall Street to Washington,” Mr. Obama said, adding, “That’s why I made passage of Wall Street reform one of my top priorities as president, so that a crisis like this does not happen again.”
The Times also has a handy rundown of what's in and what's out of the bill as passed by the Senate. The list doesn't include some big items that would have had to make it on the bill as second order amendments. But things could still change. Some amendments could be dropped in conference committee and some provisions could be inserted.
Stay tuned.

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