It wasn't even close. The final vote was 61-33.
Two Republicans, Tom Corburn and Richard Shelby, voted in favor. A whole slew of Democrats voted against: Akaka, Baucus, Bayh, Bennet, Carper Conrad,, Dodd, Feinstein, Gillibrand, Hagan, Inouyue, Johnson, Kerry, Klobuchar, Kohl, Landrieu, Lautenberg, Lieberman, McCaskill, Menendez, both Nelsons, Jack Reed, Schumer, Shaheen, Tester, Mark Udall and Warner.
The Huffington Post has more:
Under Brown-Kaufman, no bank could hold more than 10 percent of the total amount of insured deposits, and a limit would have been placed on liabilities of a single bank to two percent of GDP.
In practice, the amendment required the six biggest banks -- Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley -- to significantly scale down their size. It was touted as a way to end Too Big To Fail.
Though top Obama administration officials have not publicly opposed the amendment, its leading economists have opposed ending Too Big To Fail simply by breaking up the nation's financial behemoths. Austan Goolsbee and Larry Summers have both fought back against this idea, as has Treasury Secretary Timothy Geithner.
The banks owned by the four largest financial firms in the U.S. collectively account for about 45 percent of all assets in the U.S. banking system, according to a HuffPost analysis of Federal Deposit Insurance Corporation data.
We are going to have to break up the big banks ourselves by getting people, organizations, companies and governments to move their money (check out the Move Your Money campaign). It may be a long slog, but right now it seems like the only way.
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