By a vote of 57 to 38, the Senate rejected a ban on a type of derivative contract known as a "naked credit default swap" that figured prominently in the financial crisis.

The vote came on the same day that Germany announced a ban on some types of naked short-selling, or betting on declines in a securities' price without first borrowing the securities to cover the bet, as is done in a normal short sale.

On another important issue, Dodd backed the banks against Co-chairperson Blanche Lincoln who wanted to force big banks to separate their lucrative swap-trading desks from their core operations.

A huge opportunity... getting lost in the proverbial back-room wheeling and dealing.