HOUSE PASSES HISTORIC FINANCIAL RULES REVAMP
A year after Wall Street failures plunged the U.S. into recession, the House of Representatives on Friday passed the most ambitious restructuring of financial regulation since the New Deal of the 1930s.
The sprawling legislation gives the government new powers to break up companies that threaten the economy, creates a new agency to oversee consumer banking transactions and shines a light into shadow financial markets that have escaped the oversight of regulators. The vote was a party-line 223-202. No Republicans voted for the bill; 27 Democrats voted against it. READ MORE…
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Posted: December 11th, 2009 under LA Topics, The Mario Solis-Marich Show.
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