The Banks Rally on Capitol Hill

A fresh round of lobbying from the big banks looks set to seriously water down the so-called Volcker Rule in the financial reform legislation. The word up on the Hill is that it’s all about Sen. Brown (R-MA) who holds the deciding 60th vote and wants the waterdown. But Sen. Levin (D-MI) the primary author of the key rule doesn’t buy that and seems to believe that other members of the Democratic caucus have been gotten to by the bank lobbying and actually want to see the Volcker Rule watered down too. Our Brian Beutler gets the story form Sen. Levin.