Senate passes sweeping Wall St. bill. . . .

According to Carrie Budoff Brown & Meredith Shiner at politico.com:

The most sweeping overhaul of the nation’s financial regulatory system since the Great Depression cleared the Senate Thursday night – putting President Barack Obama on his way toward a second major legislative accomplishment this year. . . .

. . . . But to the end, most Republicans criticized the measure as a vast overreach of government authority.

"This bill is flawed," said Sen. Richard Shelby (R-Ala.), the top Republican negotiator. "This bill promises more government, more costs, slower economic growth, and fewer jobs. It threatens privacy rights and fails to address crucial elements of the recent crisis."

-----------------------------------

BTW - The new RINO Senator Scott Brown from Massachusetts voted FOR the bill. . . .and there is also no reform in this bill for Fannie Mae and Freddie Mac which were major players in the financial meltdown of our great nation last year.

-----------------------------------

To read the full article go to:

http://www.politico.com/news/stories/0510/37569.html