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Released: July 15, 2010

Passage of financial reform is only half the battle

Source: Jim Puzzanghera, L.A.Times (Free Registration)

The Senate’s expected approval of financial regulatory reform this week closes more than a year of partisan wrangling over how to prevent a future economic meltdown. But the signing ceremony in the coming days by President Obama won’t mark the end of the high-stakes battle over remaking Wall Street. It will be more like the halftime show.

Passage of the most sweeping overhaul of rules governing the financial industry since the Great Depression will kick off a monumental task by federal regulatory agencies — conducting dozens of studies and writing hundreds of specific new rules mandated by the legislation.

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