MAYBE WALL STREET should open a casino right there on the corner of Broad Street, because these guys simply cannot lose. After kneecapping the global economy, costing millions their homes and livelihoods, and saddling our grandchildren with massive debt—after all that, they're still cashing in on their bonuses. And the worst part? These fat-cat recidivists don't even have the decency to fake contrition.

Late last night, the U.S. Senate rejected the single most important element of Wall Street reform by a vote of 33 to 61. The SAFE Banking Act would have forced the break-up of the nation's six largest banks, and dramatically reduced the political clout of America's financial elite. The 61 votes against the measure are votes in favor of Wall Street's stranglehold on our economy. No matter what else is ultimately enacted in the name of Wall Street reform, Congress has decided that it will not confront the single greatest problem in the U.S. economy: Too Big To Fail.