HOUSE PASSES BILL TO PRETEND-REGULATE WALL STREET! Oh look, the House finally passed a financial regulation bill, its third major legislative feat of the year. Now, as usual, it will go to the Senate to die. Not that this bill has anything even resembling teeth in it at all: "In preliminary votes ahead of the measure’s approval, lawmakers scaled back the bill’s ambitions slightly in ways that may increase its chances of overcoming objections from powerful financial interests." Phew! [NYT]

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