11/04/2010 06:05 am ET | Updated May 25, 2011

The Volcker Rule After The Midterm Elections

The Obama administration saved the deeply troubled megabanks in the United States in early 2009 with a bundle of rescue measures that, compared with similar financial crises elsewhere, stands out as extraordinarily generous -- particularly to the bankers at the epicenter of the disaster.

The banks responded to this magnanimity with -- by all accounts -- extraordinarily generous support for the Republicans leading up to this week's midterm elections. Why would they do this?

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