Although the vote to include the amendment for the non-accelerated filer, Sarbanes-Oxley Section 404(b) permanent reprieve in the H.R.4173 - Wall Street Reform and Consumer Protection Act of 2009 failed in the Senate, the final vote on the Wall Street Reform Act is scheduled for as early as this week.
Reuters has a great article on the subject:
"(Reuters) - President Barack Obama scolded Wall Street on Thursday for its "furious efforts" to fight tighter regulation, saying the United States was doomed to another financial crisis if reforms were not implemented.
With confidence growing at the White House that Congress will approve restrictions on how big banks operate, Democratic Leader Harry Reid set a vote for Monday evening that could clear the way for a Senate debate on the overhaul.
In a speech in New York attended by several Wall Street executives, Obama blamed the financial meltdown and the recession that followed on a "failure of responsibility" by both Washington and Wall Street."
To read the full article, click here.