Key Piece of Financial Reform Passes

More progress today on the financial reform bill: The Senate Agriculture Committee approved a bill to regulate the derivatives industry, and chairman Blanche Lincoln even got a Republican on board in the form of Chuck Grassley. The measure is seen as one of the more significant components of the overall bill, notes the Washington Post, and leaders of both parties continue to say that a final deal is this close. President Obama will deliver a major speech on the subject tomorrow, reports the Wall Street Journal. (More derivatives market stories.)