The Times ends with a look at what might be done about it. It notes that ferocious lobbying by the banks led the Fed to protect their cash cow in a 2005 ruling. These folks are wounded now, but they aren’t going to let a super-high-margin line of business go quietly. That $27 billion can pay for a lot of campaign donations, ads, and high-priced lobbyists.

But if anything is done, we’ll have the press to thank, in part, for helping put this issue on the front burner.

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Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at rc2538@columbia.edu. Follow him on Twitter at @ryanchittum.