Too Big To Fail Failed In The Senate 61-33

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Well, there can no longer be any doubts that the Senate is firmly in the pockets of the big banks. Once again, they’ve proven completely unwilling to do what good governance and the lessons of history suggest they must.

Today an amendment to the financial reform bill, sponsored by Senators Sherrod Brown of Ohio and Ted Kaufman of Delaware that would have required the big banks to be broken down into smaller and more manageable institutions failed by a vote of 61 to 33.

Not that I really thought ending “too big to fail” had a chance, but I thought the vote would be narrower than that. There are way too many senators who are responding to the wishes of their campaign donors and not to the needs of their constituents.

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