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The House of Representatives passed legislation today designed to tighten regulations on Wall Street and prevent another financial crisis from unfolding in the future.

"We are sending a clear message to Wall Street: The party is over," Nancy Pelosi announced grandly at a news conference following the vote.

Or maybe it isn't. Republicans have vowed to oppose it, and there isn't any guarantee it will ultimately end up as law: "The Senate is still developing its own measure for debate early next year and any Senate bill is likely to have substantial differences from the House measure, necessitating further negotiations."

House Passes Far-Reaching Bill Tightening Financial Rules [NYT]
House Tightens Rules for Wall Street Over Opposition [BN]