WASHINGTON (AP) - The Senate has passed a sweeping overhaul of
how the government regulates banks and Wall Street.
The legislation is aimed at preventing a repeat of the financial
meltdown two years ago that plunged the nation into a deep
The Senate passed the bill on a 59-39 vote, giving President
Barack Obama a major policy victory.
The bill now must be merged with a House version. A key House
negotiator predicts the bill will reach Obama's desk by the Fourth
The massive legislation touches all points in the financial
sectors, from Wall Street CEOs and first-time home buyers, to
high-flying traders and small town lenders.
The bill calls for new ways to watch for risks in the financial
(Copyright 2010 by The Associated Press. All Rights Reserved.)