Cantwell Votes No on Wall Street Regulation Bill - Spokane, North Idaho News & Weather KHQ.com

Cantwell Votes No on Wall Street Regulation Bill

OLYMPIA, Wash. (AP) - Sen. Maria Cantwell was one of just two Democrats to vote against an overhaul on how the government regulates banks and Wall Street.

The measure passed on a 59-39 vote Thursday night, and Cantwell and Russ Feingold of Wisconsin joined most Republicans in voting against the bill.

In a written statement, Cantwell says the bill does not go far enough and "does not safeguard America's economy from a repeat of this crisis."

The bill must now be reconciled with a House version that passed in December.

It calls for new ways to watch for risks in the financial system and makes it easier to liquidate large failing financial firms. It also writes new rules for complex securities blamed for helping precipitate the 2008 economic crisis.

 

(Copyright 2010 by The Associated Press. All Rights Reserved.)

 

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