Madam President, we just witnessed a few moments ago the third attempt to try to do something about financial reform legislation in this body, and for the third time, it went down. I am an old baseball player. I played a lot of baseball in my young days, and there is a rule in baseball that says three strikes and you are out. Well, we have had three tries at this financial reform, and I will tell my distinguished colleagues on the other side of the aisle: We are not out. We are just beginning to fight under the circumstances we are confronted with because we are fighting on behalf of the American people. Earlier this week, our distinguished majority leader called for a vote to open the debate on major financial reform. We have seen well- designed proposals from the Senator from Connecticut, Chairman Dodd. This bill reflects the priorities articulated by President Obama and supported by an overwhelming majority of the American people. It will end the so-called ``too big to fail'' and prevent massive banks from making risky decisions that threaten the entire American economy. It will eliminate the need for government bailouts, and it will institute commonsense regulations so companies cannot create investments that are designed to fail and then bet against them. In short, this legislation is a good starting point. As a matter of fact, we have heard Chairman Dodd say time and time again we have to get it on the Senate floor so we can improve this legislation.…
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