Tags: house | wall | street | reform

House Passes Sweeping Wall Street Overhaul

Friday, 11 Dec 2009 02:47 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

The House has passed a sweeping overhaul of financial regulations that would govern Wall Street and reconfigure the power of the agencies overseeing the nation's banking system. The vote was 223-202.

The legislation is a priority of President Barack Obama's. It is designed to address the shortfalls that led to last year's calamitous financial meltdown.

New powers would give the federal government the right to break up big risky companies. It also would create a consumer agency to police lenders.

Obama did not get everything he wanted. The legislation diluted some of his administration proposals. The legislative activity now moves to the Senate, which is not expected to act on a regulation bill until early next year.

Special: Get Sarah Palin’s New Book – Incredible FREE Offer -- Click Here Now.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Gallup Poll: Record Disapproval Ratings for Obama on Economy

Thursday, 17 Apr 2014 22:41 PM

More than half of Americans said they had virtually no confidence in President Barack Obama's ability to improve the nat . . .

McFarlane: US Must Respond to Russian Aggression With 'Strength'

Friday, 18 Apr 2014 07:13 AM

Former National Security Adviser Robert McFarlane called on U.S. officials to counter Russian aggression in Ukraine with . . .

Cliven Bundy: Supporters Are 'Loving,' not Terrorists

Friday, 18 Apr 2014 06:48 AM

Rancher Cliven Bundy says people supporting him against attempts by the Bureau of Land Management to take over land he i . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved