At a press conference today, Sen. Christopher Dodd (D-Conn.) unveiled plans to overhaul financial regulation. The senator highlighted that today is the 2nd anniversary of Bear Stearns & Co.'s collapse.
Dodd outlined a number of financial regulatory failures that led to the current crisis.
He said that the comprehensive, bi-partisan legislation introduced today was needed to avoid another crisis and noted that "there hasn't been financial reform on the scale that I'm proposing this afternoon since the 1930s."
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