It's Done! Obama To Sign Wall Street Reform

[JohnWxy]

http://tpmdc.talkingpointsmemo.com/2010/07/its-done-obama-to-sign-wall-street-reform.php?ref=fpa

It's done. The Senate this morning, by a vote of 60-39 passed the final version of Wall Street reform legislation -- the exact same version the House passed two weeks ago, which will now go the White House for a signature. Senate Majority Leader Harry Reid (D-NV) said that the President plans to sign the bill next week.

The development, though expected for days, represents a major achievement for President Obama and congressional Democrats -- their first landmark bill since health care. And this time it's actually popular.

But getting here wasn't easy for Democrats.

Indeed, Democrats on the Hill and in the Obama administration are divided as to whether the legislation truly achieves the underlying objective of preventing future financial industry bailouts. That schism is personified by Sen. Russ Feingold (D-WI) -- the only senator who voted against the bill from the left, who has argued that, to be effective, the Wall Street reform bill would have had to shrink big financial companies, break them apart or make other structural changes to the industry.
(more)

[scarletlib]

1. Well it's a start anyway.

[dflprincess]

4. I imagine it's the end as well

I've lost track of all the legislation that needs to be "fixed later".

[aquart]

2. Is there any reform in it?

Anything to make me cheer?

[zipplewrath]

5. We shall see

It involves alot of regulatory authority, so it depends upon the regulators alot. You know, like the ones that were regulating the banking industry before.

[WannaJumpMyScooter]

3. and I am on week 55 of unemployment

this will help me a lot, I am sure