The Brown/Kaufman amendment would have capped the size of banks, specifically, the too-big-to-fail "big six": Bank of America, JP Morgan Chase, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley.
Brown/Kaufman went down to defeat last week by a vote of 33-61. Thirty Senate Democrats supported the measure, while 27, including Colorado Senators Michael Bennet and Mark Udall voted against it.
First of all, it is a travesty that nearly half the Senate Democrats--people who should know better--voted with big banks. Sure, Republican Senators overwhelmingly supported the banks--all except Ensign, Coburn, and Shelby--but then you expect that. Secondly, in a contentious primary, does Sen. Bennet really want to identify so closely with the Financial Wing of the Democratic Party?
Andrew Romanoff was smart to issue a press release a few days ago attacking the Bennet vote, and followed yesterday with an email to his subscribers. Sen. Bennet not only voted on the side of big banks, he has received campaign contributions from all six of the "big six," and has received over $800,000 in total contributions from the financial sector.
"If a bank is too big to fail, it’s too big to exist,” said Romanoff.
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