New York Times email alert:
The Senate on Thursday passed a far-reaching financial
regulatory bill. The legislation is intended to prevent a
repeat of the 2008 crisis, but also reshapes the role of
numerous federal agencies, and vastly empowers the Federal
Reserve, in an attempt to predict and contain future
debacles.Democratic Congressional leaders and the Obama administration
must now work to combine the Senate bill with a version
approved by the House in December, a process that is expected
to take several weeks.
How will news of this Senate bill’s passage impact Wall Street? The stock market which has been free falling lately?
Do we need financial regulation or is the meddling in the free market?
