BANKS WIN; you lose.

The big banks won big Thursday as Democratic lawmakers, with the help of the New England Republican caucus, finally extruded the Dodd-Frank financial bill.The big six get VIP regulation and permanent status as too big to fail. They’ll be able to soak up capital from around the world with the implicit backing of the U.S. Treasury as smaller banks struggle for cash and contend with niggling new regulations.

Wasn’t it “too big to fail” that got us into this mess in the first place?