Obama gets closer to signing Wall Street regulation bill

03:42 PM

• • Yahoo! Buzz
• Share
  DiggNewsvineReddit
• E-mail
• Save
• Print

Share3

9 Comments

2 Recommend

Massachusetts Sen. Scott Brown.

CAPTION

By Drew Angerer, AP

White House officials are now more optimistic than ever that President Obama will soon be signing a major overhaul of financial firm regulations, thanks to Sen. Scott Brown, R-Mass.

Brown said today he likes the way the Wall Street bill has changed and he will therefore withdraw support for a Senate Republican filibuster that had blocked the bill before the Fourth of July congressional recess.

"Obviously, they're making good progress on that," said White House spokesman Robert Gibbs, citing Brown's new backing.

Obama will likely trumped a new financial regulation bill -- the biggest overhaul of the system since the Great Depression -- as one of his major first-term accomplishments, along with health care and the stimulus plan.

Republicans will likely argue that all three bills threaten prospects for economic recovery.

(Posted by David Jackson)