The Senate just rejected a Republican measure to eliminate a provision in the regulatory reform bill that requires ABS issuers to retain "skin-in-the-game," or take steps to ensure that their loans meet standards to reduce risk.

The bill drawn up by Democrats led by Christopher Dodd (D-Conn) compels securitization issuers to carry on their books at least 5% of the portfolio risk from the loans they securitize.

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