Hence it was largely suggested and supported by the financial services industry, then it makes sense that it was a profitable move to suggest it in the first place. In the USA, nothing is given without a return to be expected, and especially not by financial services. The way i see it, there is a game of influence being played behind the curtains and the result that this initiative has failed, is a direct indication of who is dominating or who has won the game from behind the curtains.

This move of Obama to support this initiative can be looked upon as a way to create momentum for a future project or law - either to create some precedent or to use this as a base for something more to come. The opposition saw it coming and realized that it may affect their status quo in the long-run, and thus they cut it short to preserve themselves in the chair of power until they're rotten, and happily ever after..

The thing is, nothing good is being germinated in the USA; it's all a but a game of power, ego and money. If it appears that something good is meant to happen for it's people, then you should think twice; cause when something's too good to be true, then it probably isn't.