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No. 8: Financial reform

Fifteen months after a catastrophic financial meltdown devastated the economy and required billions in taxpayer-funded bailouts, America may not be quite ready for reform. In December, an Obama-backed plan to overhaul regulation of the financial industry squeaked by in the House with nary a single Republican vote. The plan, which grants the government authority to break up too-big-to-fail financial firms at its discretion and includes a new industry-financed $150 billion bailout fund, is expected to meet stiff opposition in the Senate. Terrence Duffy, executive chairman of CME Group Inc., left, and other financial executives testify at a Senate committee hearing on regulating over-the-counter derivatives. (Joshua Roberts/Bloomberg)
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