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> http://www.news.com.au/breaking-news/financial-reform-bill-to-hold-wall-street-accountable-says-barack-obama/story-e6frfku0-1225884509136

BARACK Obama says a sweeping financial reform bill agreed by politicians after marathon talks will hold Wall Street accountable and help prevent another economic meltdown.

"We are poised to pass the toughest financial reform since the ones we created in the aftermath of the Great Depression," the President said.

"Early this morning the House and Senate reached an agreement on a set of Wall Street reforms that represents 90 per cent of what I proposed when I took up this fight."

The 20-hour final talks produced a merged bill that must be voted on by the House of Representatives and the Senate next week, and will hand Mr Obama a famous political victory at a tough political moment of his presidency.

It will also give him a boost as he heads to the G20 summit in Canada.

Asked whether the Democratic-led Congress would pass the final bill, Mr Obama said: "You bet."

"We've seen what happens when there's inadequate oversight and insufficient transparency on Wall Street.

"The reforms making their way through Congress will hold Wall Street accountable so we can help prevent another financial crisis like the one that we're still recovering from."