Thursday, May 20, 2010

News Alert: Senate Approves Bill to Overhaul Financial Regulation

Breaking News Alert
The New York Times
Thu, May 20, 2010 -- 8:46 PM ET
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Senate Approves Bill to Overhaul Financial Regulation

The Senate on Thursday passed a far-reaching financial
regulatory bill. The legislation is intended to prevent a
repeat of the 2008 crisis, but also reshapes the role of
numerous federal agencies, and vastly empowers the Federal
Reserve, in an attempt to predict and contain future
debacles.

Democratic Congressional leaders and the Obama administration
must now work to combine the Senate bill with a version
approved by the House in December, a process that is expected
to take several weeks.

Read More:
http://www.nytimes.com?emc=na

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