Speaking on the floor of the Senate, Christopher Dodd (D-Conn.), chief sponsor of the regulatory reform act that bears his name, urged his colleagues to support the measure even if they don't like all of it.

"I know there are those who don't like any part of this bill and so will vote no. I understand that," Dodd said. "But don't tell me you don't like this part of it or that element of it and because of that you are not going to vote for it. Frankly, that I don't understand," he said.

He warned Senators that failing to pass the measure would leave the U.S. in the same place it had been the fall of 2008, "with all the same vulnerabilities" he said.

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