Associated Press
WASHINGTON — The House passed the most ambitious restructuring of federal financial regulations since the New Deal on Friday, aiming to head off any replay of last year’s Wall Street failures that plunged the nation deep into recession.

The sprawling legislation would give the government new powers to break up companies that threaten the economy, create a new agency to oversee consumer banking transactions and shine a light into shadow financial markets that have escaped the oversight of regulators.

The vote was a party-line 223-202. No Republicans voted for the bill; 27 Democrats voted against it.

The Boston Globe said in their article that it would “crack down on the types of Wall Street practices that caused last year’s economic meltdown.” You (Michael Kranish), my friend, are retarded. This legislation gives more power to the Federal Reserve, you know the institution that actually caused the mess. Oh and just to vent some more, Rep. John Tierney (Democrat – District 6) voted in favor of it. Stooge.