Financial Reform Bill Passes in Senate, 59-39

May 20, 2010 9:13pm

ABC News' Vic Ratner reports: A sharply divided Senate passed one of the president’s top
priorities — a massive overhaul of the rules for Wall Street. The vote 59-39;
mostly along party lines.

Senate Democratic leader Harry Reid called it “learning from the
mistakes of the past." 

"When this bill becomes law, the joy ride on Wall Street
will come to a screeching halt,” Reid said.

Sponsors say the measure includes new consumer protections
against financial scams and procedures to avoid another wall street meltdown.
Critics charge the new regulations will harm businesses and let the federal
government snoop in your bank and charge accounts.

Four republican senators joined almost every Democrat in voting
for the measure.

A compromise still has to be worked out with a similar bill
passed by the house, before the measure can go to the president for his
signature.

GOP voting yes:                
Brown (MA)  
Collins
Grassley
Snowe

Dems voting no:
Cantwell 
Feingold

Senators missing vote:
Byrd and Specter

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