Senate passes sweeping financial overhaul legislation

Nearly two years after a financial crisis triggered the worst recession since the Great Depression, the Senate approved bold and controversial legislation aimed at preventing a repeat — and set the stage for a showdown over the issue in this fall’s midterm elections.

The 60-39 vote Thursday was a major victory for President Obama and Democratic leaders and marked the second landmark overhaul — the first was healthcare reform — that the administration has pushed through Congress this year.


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