WASHINGTON – The most sweeping new controls on financial institutions since the Great Depression are a big step closer to approval in Congress.
The changes, aimed at preventing a recurrence of the crisis that knocked the nation’s financial system to its knees in 2008, advanced Wednesday when Republicans abandoned their blockade in the Senate. Now, the battle begins over crucial details and that could take at least two weeks. The House has already passed its version.
Democrats and Republicans agree the Senate will ultimately pass landmark changes.
Democrats said the Republicans had given in after three days of votes to block debate, realizing they were on the losing end of a battle for public opinion. GOP lawmakers said they would now switch to trying to change the bill on the Senate floor.
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Source: The Huffington Post
WASHINGTON — Republicans set the stage Wednesday for removing their blockade against legislation to tighten regulations ...
President Barack Obama hailed Wednesday's one-year-old economic stimulus law as a solid accomplishment that staved off another severe economic depression ...
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