Skip to comments.Finance Bill Fails to Move Forward in Key Test Vote
Posted on 04/26/2010 3:37:45 PM PDT by Pontiac
U.S. Senate Republicans stood together Monday to successfully block lawmakers from moving ahead with sweeping legislation to overhaul U.S. financial markets, a temporary stumble for the Obama administration's top domestic policy priority.
The Senate voted 57-41 on a procedural measure allowing lawmakers to move toward debate on financial regulatory overhaul legislation, falling short of the 60 votes needed. All GOP senators present voted against invoking cloture, joined by at least one Democrat, Sen. Ben Nelson (D., Neb.).
The partisan vote underscores the high political stakes surrounding the legislation, which would subject the nation's financial institutions to new consumer and capital rules, boost regulation of derivatives and allow the government to respond more aggressively to crises in the financial system. If enacted, it would represent the most sweeping changes to regulation of financial markets since the Great Depression.
Both parties looked to secure gains from the vote. Republicans hoped to use their refusal to break ranks to strengthen their position in ongoing negotiations between the parties. Democrats, meanwhile, were happy to let GOP lawmakers take a vote that is likely to be used in re-election battles later this year.
(Excerpt) Read more at online.wsj.com ...
Who was the Republican? Did they not vote or did they vote to proceed?
“Democrats, meanwhile, were happy to let GOP lawmakers take a vote that is likely to be used in re-election battles later this year.”
People get healthcare, they get immigration. This is just static.
Now since the media will portray it as the GOP wants to block legislation that would fix Wall St... let’s see just how horrible they can be at explaining why this is a bad bill and so on.
The Rats think that if they find a new boogie man to demonize then they can win. What they don’t realize is that many, many people will see this as just another power grab by the Rats.
This is NOT a bill intended to correct the problems, most of which were caused by the Democrats in the first place. It’s two major purposes are more government control of banks and finance, and more gravy to split with their pals in the business.
The article calls this “a temporary stumble.” Unless we work VERY hard to block it, I’m afraid that may be so. Obama controls trillions of dollars to spread around in bribes, as he showed with the health bill, and no doubt he’ll do the same thing again.
That could be anything since his "top domestic policy priority" changes with whatever garbage he's currently try to ram down our throats.
Thank God...............for now.
“lets see just how horrible they can be at explaining why this is a bad bill and so on.”
Easy explanation: The Rats support it just like they supported cap and trade, health care reform, amnesty, higher taxes, etc, therefore it MUST be bad for the country and the people.
try it bastards
They failed to invoke cloture. This means that they can not proceed to a vote.
The Democrats have failed to preclude a Filibuster.
Up til now, the sob has done a good job of ramming it down our throats.
All the gop needs to say is that this codifies too big to fail and bailouts.
The noxious fumes of the manner in which the entire Obamacare nightmare was ‘debated’ and passed still linger like smoke in a closed room. The democrats show their ineptitude if they think the American public is going to back them on any new menu of legislative sausage! The feigned outrage of Obama and his democrat bumkissers will elicit a collective yawn from the nation.
I don't see the Rats getting the traction they expected from this.
The “One” needs more “Copenhagen Trophys”.
Monday’s vote did occasion some heated rhetoric between the two parties. Bill Duhnke, Republican staff director of the Senate Banking Committee, took the unusual step of directly criticizing Mr. Reid to reporters for saying a “no” vote on Monday would favor Wall Street.
“In my opinion, the lack of knowledge, sophistication and analytic rigor demonstrated in that statement is simply staggering,” Mr. Duhnke said.
They need 60 votes to move forward, not 41 to block it ...
Bennett & Bond didn't vote, but Harry Reid voted Nay with Nelson & the GOP!!!!!