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House and Senate lawmakers reach deal on financial reform

by AirTalk®

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Chairman Rep. Barney Frank (D-MA) (C) participates in a Senate-House Conference Committee meeting on Capitol Hill, June 22, 2010 in Washington, DC. The Conference Committee is discussing the Senate and House versions of the financial regulatory reform bill in hopes of a compromise that both houses will accept. Mark Wilson/Getty Images

After two weeks of negotiations, members of a House and Senate conference committee have reached an agreement on measures to regulate the country's financial system. The bill would create an independent consumer protection bureau, limit the types of derivatives that banks could trade, and grant the government power to seize and dismantle firms on the verge of collapse. Congress is expected to approve the bill next week, making it the most far-reaching set of financial reforms since the Great Depression. What measures were included or left out of the bill, and will it be enough to reform Wall Street?


Jamie Court, President of Consumer Watchdog and author of "Corporateering: How Corporate Power Steals Your Personal Freedom...And What You Can Do About It"
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