BUSINESS

'Senate Has To Do Better' On Financial Reform: NYT Editorial

07/11/2010 05:12 am ET | Updated May 25, 2011

Banks ahead, American taxpayers lagging behind. That's the disappointing reality here after the first week of Senate action on the financial reform bill.

Senators overwhelmingly rejected an important provision that would have required large financial firms to pay $50 billion upfront to create a so-called resolution fund, which would have been used to dismantle big banks at risk of failure.

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