The perfect opportunity for Dodd either to re-invent himself or provide a legacy. If he goes down, take with him as many of the bastards as he can. Do some damage on the way out. He has a year during which he can use hearings, subpoenas and testimony under oath to brand financial services executives as thieves and frauds.  He may not be able to take down them and their companies, but he can impair them and lay groundwork for eventual dismantling. Enough of that and he might not need campaign donations.  News reports would serve instead.  

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."

mmmmmmmmmmmmmmmmmmmmmmmmmmmm... no.

Let's not forget either the source of this bold unification ideology or allies in the pews.

Sen. Schumer is quoted, "He [Paulson] is on the money when he calls for a more unified regulatory structure, although we would prefer a single regulator to the three he proposes." But Mr Paulson is quoted, "I am not suggesting that more regulation is the answer, or even that more effective regulation can prevent the periods of financial market stress that seem to occur every five to 10 years." ...

The fact that business classifications have multiplied exponentially during the the past 40 years should indicate the necessity of specialization in enforcement. But here we are, contemplating reinforcement of executive unitary theory as if three totalizing, central authorities appointed by a president could, actually, provide requisite regulatory relief to the market consumers whose purchasing "power" constitutes the GNP.

Othewise it's tempting to fall for the um lone revolting pimp plot.

Diversity is the key to economic and political evolution.