United States Senate passes financial overhaul bill
On Thursday, the United States Senate approved the financial overhaul package in a 60-39 vote. The bill is now awaiting President Barack Obama's signature. Obama is expected to sign the legislation into law next week, and the focus now switches to how the new regulations will be implemented in the coming weeks and months. The legislation will give financial regulators significant discretion in shaping the rules. The legislation also puts faith in regulators to spot developing problems in the financial system, and gives them the authority to
Source: Wikinews