11 years ago only 8 Senators had the guts to vote against Gramm Leach Bliley. Today, one of those Senators took a bold step yet again, and denied the Democrats the 60 votes they needed to pass this joke of a financial reform package - Russ Feingold.
Senator Russell Feingold said on Monday that he will not vote to advance the financial-reform bill, denying his fellow Democrats the 60th vote they need to clear a final hurdle in Congress.
"My test for the financial regulatory reform bill is whether it will prevent another crisis," Feingold said in a prepared statement. The bill "fails that test and for that reason I will not vote to advance it."
Once again Feingold proves to be the honorable exception to the rule.
good for him
It's now coming out from experts to pundits this bill is simply not going to stop the next crisis. I haven't read the bill details yet but another way to stop a potential crisis is leverage and I don't think those got into the bill either.