Analysis: Senate vote on financial reform is another victory for Obama

05/23/2010 | Economist (free content), The · · Hill, The

Some crucial issues remain to be faced, but the Senate's 59-39 vote to adopt a massive financial-reform bill marks President Barack Obama's second major legislative victory this year, after scoring a win on health care, according to The Economist. The latest legislation would implement the most sweeping changes to financial regulation since the Great Depression, the magazine notes. A provision by Sen. Blanche Lincoln, D-Ark., forces big banks to spin off their derivative trading arms into separate subsidiaries.

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Economist (free content), The · · Hill, The

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