The Senate passed the Financial Reform Bill, as known as Wall Street Reform Bill. Three Republicans voted yes for the reform. The bill is due to be signed into a law next week.
This is a historic moment. The human reasons won over six trillion derivative market. Almost all transactions will be regulated. No financial institutes can lie about their liabilities in forms of such a deceptive financial products as CDS. Now the banks will limit their swap deals proportional to their assets.
President Obama congratulated the passage of the law.
This is a historic moment. The human reasons won over six trillion derivative market. Almost all transactions will be regulated. No financial institutes can lie about their liabilities in forms of such a deceptive financial products as CDS. Now the banks will limit their swap deals proportional to their assets.
President Obama congratulated the passage of the law.