Sweeping Wall Street Overhaul On Its Way To Passage

Posted by | July 15, 2010 12:33 | Filed under: Top Stories

It will be the biggest overhaul of Wall Street since the Great Depression.  Senate passage and the president’s signature is likely now that sixty senators have signed off on it.

The sweeping reform bill will create a consumer financial protection agency, let the government dismantle large failing firms, bring transparency to the murky derivatives market, and cap the fees that debit card companies can charge retailers.

As with the other reforms accomplished by Democrats since Obama took office, this one was also bucked by most Republicans, with the exception of Susan Collins and Olympia Snowe of Maine and Scott Brown of Massachusetts. Wisconsin Senator Russ Feingold was the only Democrat to oppose it.

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Copyright 2010 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.

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