Surprise! Wall Street Gets HUGE Win In Financial Reform Voting

Jamie Dimon

Photo: ap

Yesterday brought one bit of good news to Wall Street.Senators voted overwhelmingly against an amendment to cap bank size and leverage. Democratic Senator Harry Reid was one of only 30 Democratic Senators to support the measure.

What this means, basically, is that too big to fail is guaranteed to exist since, the only way to avoid too big to fail is to not have big banks.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.