Financial Overhaul, Bank Bailout | featured news

The sweeping overhaul of the nation's financial industry is President Barack Obama's answer to the nation's outrage over Wall Street bailouts. But come November if more Americans don't have jobs, Democrats in Congress could very well lose theirs, too.

A Senate committee on Wednesday passed a proposal aimed at helping protect the economy from future meltdowns and taxpayers from more Wall Street bailouts.

Senator Mitch McConnell said that the proposal would continue government bailouts of big banks.

President Barack Obama singled out financial institutions for causing much of the economic tailspin and criticized their opposition to tighter federal oversight of their industry....