Huffpost Politics

Obama Hails House Passage Of Financial Reform

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WASHINGTON — President Barack Obama says House passage of a massive overhaul of financial regulations is a victory for everyone who was hurt by what he is calling Wall Street "recklessness and irresponsibility" that caused the financial meltdown and millions of job losses.

House lawmakers voted 237-192 Wednesday in favor of the bill, sending it to the Senate for a vote expected in mid-July.

Obama says the legislation provides a sensible framework of rules and regulations that will hold financial institutions accountable for their actions and help prevent another economic crisis like the one the U.S. is still recovering from.

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