US Senate moves towards passage of financial “reform” bill

By an overwhelming, bipartisan vote of 93-5 Wednesday, the US Senate removed the main obstacle to the passage of the misnamed “financial reform” legislation proposed by the Obama administration.

Far more significant than the rhetorical tub-thumping against bailouts of Wall Street is the fact that the Senate is adamantly opposed to any new taxes and fees on the financial institutions that less than two years ago triggered a worldwide financial crisis and the deepest slump since the Great Depression.