The US Senate Has Left Us Vulnerable to the Big Bank Criminals

The Senate passed legislation that's gonna repeal protections that had been put in place with the Dodd Frank Act. Ring of Fire’s Mike Papantonio and Peter Mougey discuss this issue.

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Historic Wall Street Overhaul Passed by US Senate
TIMES ONLINE: The US Senate has passed legislation that will usher in the biggest overhaul of Wall Street since the Great Depression, fulfilling President Barack Obama’s vow to toughen regulation of the financial sector following the credit crisis.

The Senate voted 59 to 39 to pass the 1,500-page Restoring American Financial Stability Act overnight, after months of argument between Democrats and Republicans over President Obama’s reform proposals.

The House of Representatives passed its own bill based on the President’s ideas last December. Now lawmakers from both branches of Congress must meld the two bills into one piece of legislation.

The Senate’s yes-vote is a significant achievement for President Obama, who made reforming America’s financial regulatory system one of his key domestic priorities. Since passing his historic healthcare reform bill in March, the President has thrown much of his energy into urging Republicans and Wall Street to support the changes, which attempt to plug the holes in America's patchwork of financial monitoring. Read on and comment >>> Christine Seib, New York | Friday, May 21, 2010

NZZ ONLINE: Der US-Senat verabschiedet Obamas Finanzreform: Mehr Kontrolle über die Banken und besserer Schutz für Konsumenten >>> sda/dpa/afp | Freitag, 21. Mai 2010

LE MONDE: La réforme de Wall Street adoptée par le Sénat américain >>> LeMonde.fr avec AFP et Reuters | Vendredi 21 Mai 2010