From the FINANCIAL TIMES:
US lawmakers scrapped a proposed $19bn bank fee on Tuesday night as Democrats struggled to secure sufficient votes to pass the Wall Street reform bill.
Chris Dodd, the Democratic chairman of the Senate banking committee, dropped the fee and proposed new ways to pay the costs of the legislation to win the vote of Scott Brown, a Republican senator, who said he could not vote for the bill if it stayed in…
The elimination of the bank fee is a victory for Wall Street , the latest in a series to be delivered by Mr Brown, who as a freshman senator has exerted an unusual amount of influence on the bill in an institution that normally prizes seniority…
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Editor’s comment: “Death be not proud.” The passing of Ted Kennedy and now Robert Byrd have had almost as great an effect upon the future of our nation as did their lives. In both cases, the ramifications have been very sad.
