The New York Times
Fri, December 11, 2009 -- 2:31 PM ET
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House Passes Financial Regulation Bill, 223 to 202
The House on Friday approved a Democratic plan to
significantly tighten federal regulation of Wall Street and
the financial sector, advancing a far-reaching Congressional
response to the financial crisis still reverberating through
the economy.
After three days of floor debate, the House voted 223 to 202
to approve the measure. It creates a new agency to oversee
consumer lending, establishes new rules for transactions that
contributed to the meltdown, and seeks to reduce the threat
that one or two huge companies on the verge of collapse could
bring down the economy.
Any Senate bill is likely to have substantial differences
from the House measure, necessitating further negotiations.
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