Obama claims victory in financial overhaul deal

WASHINGTON (AP) — President Barack Obama declared victory today after congressional negotiators reached a dawn agreement on a sweeping overhaul of rules overseeing Wall Street. Lawmakers shook hands on the compromise legislation at 5:39 a.m. after Obama administration officials helped broker a deal that cracked the last impediment to the bill - a proposal to force banks to spin off their lucrative derivatives trading business. The legislation touches on an exhaustive range of financial transactions, from a debit card swipe at a supermarket to the most complex securities deals cut in downtown Manhattan.