Reforms put Wall Street in its place

Thomas Noyes
guardian.co.uk,
Friday 21 May 2010 16.30 BST

The Senate last night passed a comprehensive financial reform bill by a vote of 59 to 39 after weeks of amendments and a series of cloture votes failed to derail the measure.

Passage of S.3127, the Restoring American Financial Stability Act of 2010, represents a clear victory for Barack Obama, who made this his next big legislative priority after healthcare. Obama hailed the bill's passage, noting "The recession we're emerging from was primarily caused by a lack of responsibility and accountability from Wall Street to Washington."