Obama's Financial Overhaul Bill Passes

Congress has had enough, passing the financial overhaul legislation proposed by President Obama. Prodded by Rahm Emanuel's call for an emergency meeting of top administration officials in the White House’s Roosevelt Room, members of Congress decided to pass the bill. What was different? A more active White House role, and two Democratic lawmakers with a combined 65 years in Congress steering the bill through with little Republican backing. Add public anger and the Goldman Sachs subprime mortgage fine to the mix, and you've got financial overhaul legislation.

Read more at BusinessWeek.

 

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