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Wednesday, June 30, 2010

US House passes historic Wall Street overhaul

Source: AFP

WASHINGTON (AFP) – The US House of Representatives gave its final approval Wednesday to the biggest overhaul of Wall Street rules since the Great Depression of the 1930s, leaving the landmark bill in the Senate's hands.

Lawmakers voted 237-192, largely along party lines, for the compromise legislation that President Barack Obama has made his top domestic priority -- and a weapon for bludgeoning his Republican foes ahead of November elections.

The US Senate was expected to take up the measure after the week-long July 4 recess, amid an 11th-hour hunt for the 60 votes needed to ensure passage over any Republican parliamentary delaying tactics.

"The party is over, no longer again will recklessness on Wall Street cause joblessness on Main Street," Democratic House Speaker Nancy Pelosi said shortly before the vote. Link Here


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