• The Senate doesn’t have a comparable one ready yet. Today, the House took the initiative to more strictly regulate the failings of the financial industry – big bonuses, “too big to fail” corporations – at a 223-202 clip. Republicans largely didn’t go for the bill because they feared it would limit credit, force job losses and lead to future bailouts. They also argued that “too big to fail” companies didn’t need hand-holding and could handle bankruptcies, which sounds less like something they believe and more like something they can use against the Democrats. source

Posted by Ernie Smith • Permalink