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Finance Bill Fails to Move Forward in Key Test Vote
WSJ OnLIne ^ | 4/26/10 | MICHAEL R. CRITTENDEN And VICTORIA MCGRANE

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 ...


TOPICS: Breaking News; Business/Economy; Front Page News; Government; Politics/Elections
KEYWORDS: bennelson; congress; financebill
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Good News
1 posted on 04/26/2010 3:37:45 PM PDT by Pontiac
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To: Pontiac

bttt


2 posted on 04/26/2010 3:39:43 PM PDT by Liberty Valance (Keep a simple manner for a happy life :o)
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To: Pontiac

Who was the Republican? Did they not vote or did they vote to proceed?


3 posted on 04/26/2010 3:41:07 PM PDT by Blood of Tyrants (The US will not die with a whimper. It will die with thundering applause from the left.)
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To: Pontiac

“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.


4 posted on 04/26/2010 3:42:22 PM PDT by ShandaLear (The price of Obamacare? 30 pieces of silver.)
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To: Pontiac

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.


5 posted on 04/26/2010 3:42:23 PM PDT by autumnraine (America how long will you be so deaf and dumb to the chariot wheels carrying you to the guillotine?)
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To: Pontiac

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.


6 posted on 04/26/2010 3:43:09 PM PDT by Blood of Tyrants (The US will not die with a whimper. It will die with thundering applause from the left.)
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To: Pontiac

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.


7 posted on 04/26/2010 3:43:49 PM PDT by Cicero (Marcus Tullius)
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To: Pontiac
a temporary stumble for the Obama administration's top domestic policy priority.

That could be anything since his "top domestic policy priority" changes with whatever garbage he's currently try to ram down our throats.

8 posted on 04/26/2010 3:44:13 PM PDT by Kenny
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To: Pontiac

Thank God...............for now.


9 posted on 04/26/2010 3:44:36 PM PDT by Psycho_Bunny
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To: autumnraine

“let’s 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.


10 posted on 04/26/2010 3:44:57 PM PDT by Blood of Tyrants (The US will not die with a whimper. It will die with thundering applause from the left.)
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To: Pontiac

try it bastards


11 posted on 04/26/2010 3:45:09 PM PDT by struggle ((The struggle continues))
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To: Blood of Tyrants
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.).

They failed to invoke cloture. This means that they can not proceed to a vote.

The Democrats have failed to preclude a Filibuster.

12 posted on 04/26/2010 3:46:09 PM PDT by Pontiac
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To: Kenny

Up til now, the sob has done a good job of ramming it down our throats.


13 posted on 04/26/2010 3:46:38 PM PDT by sport
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To: Blood of Tyrants

All the gop needs to say is that this codifies too big to fail and bailouts.


14 posted on 04/26/2010 3:47:10 PM PDT by GlockThe Vote
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To: Blood of Tyrants

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.


15 posted on 04/26/2010 3:47:49 PM PDT by LostInBayport (2010 - The Second American Revolution. The first shot was fired 1/19/2010 -- here in Massachusetts!)
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To: autumnraine
So far the Repubs have been very good at explaining why this is a bad bill. And very good at keeping their team together.

I don't see the Rats getting the traction they expected from this.

16 posted on 04/26/2010 3:48:42 PM PDT by Siena Dreaming
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To: Pontiac

The “One” needs more “Copenhagen Trophys”.


17 posted on 04/26/2010 3:49:03 PM PDT by G Larry (DNC is comprised of REGRESSIVES!)
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To: Pontiac; All

Money Quote:

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.


18 posted on 04/26/2010 3:51:42 PM PDT by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money.)
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To: Pontiac

They need 60 votes to move forward, not 41 to block it ...


19 posted on 04/26/2010 3:52:12 PM PDT by Tarpon ( ...Rude crude socialist Obama depends on ignorance to force his will on people)
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To: Blood of Tyrants
according to this,

http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00124

Bennett & Bond didn't vote, but Harry Reid voted Nay with Nelson & the GOP!!!!!

20 posted on 04/26/2010 3:56:04 PM PDT by aynrandfreak (Being a Democrat means never having to say you're sorry)
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To: Blood of Tyrants
according to this,

http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00124

Bennett & Bond didn't vote, but Harry Reid voted Nay with Nelson & the GOP!!!!!

21 posted on 04/26/2010 3:56:06 PM PDT by aynrandfreak (Being a Democrat means never having to say you're sorry)
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To: aynrandfreak

....I think that the Senate rules allow the “leader” to bring a bill back if he joins in voting it down initially...otherwise its history....sunk without trace....equated to zero (no pun intended)


22 posted on 04/26/2010 3:59:30 PM PDT by spokeshave (They'll get my false teeth when they pry them from my sister's cold, dead mouth)
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To: Blood of Tyrants

“Who was the Republican?”

I don’t understand your question.

All Repubs voted no on the motion to proceed.

One Democrat, Nelson of Nebraska, also voted no.

I read somewhere that Reid also voted no. I don’t know if that’s true or not, but if true it was procedural to give him rights as Leader to bring the thing back later.


23 posted on 04/26/2010 3:59:48 PM PDT by txrangerette ("Question with boldness. Hold to the truth. Speak without fear". - Glenn Beck -)
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To: Pontiac
...a temporary stumble for the Obama administration's top domestic policy priority.

Temporary?

24 posted on 04/26/2010 4:02:24 PM PDT by Norman Bates
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To: aynrandfreak

Reid’s vote would be procedural only.

There’s some arcane thing about voting no so that as Leader he can later bring it back to the floor. I can recall when Trent Lott or other GOP Leaders would do that and this site would go ballistic thinking they joined the other side or were crazy.

Believe me, Reid is trying to move heaven and earth to pass this turkey.


25 posted on 04/26/2010 4:03:13 PM PDT by txrangerette ("Question with boldness. Hold to the truth. Speak without fear". - Glenn Beck -)
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To: autumnraine

Part of how they are explaining it, in terms the average voter can understand, can be found here:

Guess Who’s The REAL Party Of Wall Street
http://www.youtube.com/watch?v=w9d00XfnKp8&feature=player_embedded


26 posted on 04/26/2010 4:06:06 PM PDT by FreedomPoster (No Representation without Taxation!)
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To: aynrandfreak

Just another coincidence in an election year I’m sure. (Harry Reid)


27 posted on 04/26/2010 4:07:58 PM PDT by DoughtyOne (Be still & kneel before the know-nothing Omnipotent One, Il Douche' Jr., may fleas be upon him.)
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To: Pontiac

who didn’t vote?


28 posted on 04/26/2010 4:27:36 PM PDT by element92
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To: Pontiac

LOL Nelson has see the light.


29 posted on 04/26/2010 4:30:42 PM PDT by Diggity
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To: txrangerette

There are 41 Republicans since Scott Brown was sworn in.


30 posted on 04/26/2010 4:33:14 PM PDT by Blood of Tyrants (The US will not die with a whimper. It will die with thundering applause from the left.)
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To: Pontiac

“Obama Bumper Stickers...”

http://www.youtube.com/watch?v=a1gMsLdVCu0&feature=channel


31 posted on 04/26/2010 4:34:16 PM PDT by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spirito Sancto.)
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To: txrangerette

There are 41 Republicans since Scott Brown was sworn in.
41R’s-1D=40


32 posted on 04/26/2010 4:34:23 PM PDT by Blood of Tyrants (The US will not die with a whimper. It will die with thundering applause from the left.)
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To: Pontiac

Oh, I know what it means. It also means that at least one Repub either didn’t vote or voted FOR cloture.

aynrandfreak says that there were two Repubs not voting.


33 posted on 04/26/2010 4:36:17 PM PDT by Blood of Tyrants (The US will not die with a whimper. It will die with thundering applause from the left.)
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To: Pontiac
Here's the vote:

Roll Call Vote

Bond and Bennett were the Republican who didn't vote.

34 posted on 04/26/2010 4:41:09 PM PDT by walsh
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To: Pontiac

A few senators holding out for more payola?


35 posted on 04/26/2010 4:49:27 PM PDT by Mad_Tom_Rackham (It is the duty of the patriot to protect his country from its government -- Thomas Paine)
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To: Pontiac

Another back room dem only deal on finance reform

http://www.freerepublic.com/focus/f-news/2501036/posts


36 posted on 04/26/2010 4:57:31 PM PDT by GailA (obamacare paid for by cuts & taxes on most vulnerable Veterans, retired Military, disabled & Seniors)
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To: All
Check This Out
37 posted on 04/26/2010 5:00:26 PM PDT by ButThreeLeftsDo (FR.......Monthly Donors Wanted.)
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To: Pontiac
Reid votes against? Could be he really, really needs to get that immigration bill front and center. He is toast, as well as Boxer if the bill is not brought up for debate. They care nothing for passage just the opportunity to demagogue against the conservatives and constitutionalists who oppose any further amnesty.
38 posted on 04/26/2010 5:02:29 PM PDT by cashless (Unlike Obama and his supporters, I'd rather be a TEA BAGGER than a TEA BAGGEE.)
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To: Pontiac

Harry Reid is 2 votes short of the 60 he needs.

If he can’t pass a bash Wall-Street bill, maybe he can’t pass anything. We can always hope.


39 posted on 04/26/2010 5:11:22 PM PDT by devere
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To: cashless

He had to vote against as the leader or he could not bring it back the floor. but he is political history.
This is GREAT news. The socialist agenda is absolute history. If these morons bring out amnesty during unemployment of 17%, they will be slaughtered on the beach. WE WANT THE DAMNED BORDERS SHUT DOWN. WE WANT ILLEGALS OUT OF HERE!! ARREST EMPLOYERS OF ILLEGALS NOW!!! The aliens will run like rats. NO MAS!!!


40 posted on 04/26/2010 5:20:04 PM PDT by rogertarp
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To: GlockThe Vote

“All the gop needs to say is that this codifies too big to fail and bailouts.”

Exactly. Get the video clip of the 30-something Wall St. banker saying “We need the money; give it to us now!” (Yes, it’s out there, I saw it the day before the first bailout vote). Tie that like a piece of meat around the democrats’ neck.


41 posted on 04/26/2010 5:38:39 PM PDT by henkster (A broken government does not merit full faith and credit.)
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To: Pontiac
BIPARTISAN OPPOSITION TO HUSSEIN'S BILL!

bwa ha ha ha ha ha ha!

42 posted on 04/26/2010 5:57:46 PM PDT by Recovering_Democrat
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To: aynrandfreak

The only reason the worthless pile of tripe Reid voted “NO”, I believe, is because Senate rules allow for a Senator who voted “no” on a bill or procedure to eventually call for a SECOND vote—so this was a tactic that may allow the weasel to get another vote to happen quickly.


43 posted on 04/26/2010 6:01:51 PM PDT by Recovering_Democrat
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To: Pontiac

It doesn’t “overhaul U.S. financial markets” from what I’ve heard. It kills them.

Rove was on Fox saying it authorized systems to track every single financial transaction. Every bank account, credit card, check, deposit or withdrawal. All without a warrant.


44 posted on 04/26/2010 6:02:55 PM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: Pontiac

So now the next qustion is how they overturn this vote so that the rats can cram another unwanted bill down our throats?


45 posted on 04/26/2010 6:36:50 PM PDT by ducttape45
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To: Pontiac
Yes, a bipartisan NO!
46 posted on 04/26/2010 6:52:50 PM PDT by goodtomato (I'm really, really blessed! I support Marco Rubio 2010)
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To: FreedomPoster

Thanks for the great link.

What I find interesting is the brainless idiots at YouTube who comment (I try not to waste my time reading them, but...like watching a car wreck, you can’t help yourself)

“It’s all a lie!” and “It is Republican propaganda!” they exclaim. But how can you argue with those figures, which are a matter of public record? It is staggering, the hypocrisy.

I do believe Ann Coulter had it right when she stated that liberals almost make a joyful sport of seeing how big they can make their lies before anyone calls them on it.


47 posted on 04/26/2010 7:16:27 PM PDT by rlmorel (We are traveling "The Road to Serfdom".)
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To: Pontiac
Look for another Cornhusker kickback. Buffett wants his existing derivatives exempted and told Nelson to get on it.
48 posted on 04/26/2010 7:26:36 PM PDT by Minipax
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To: rlmorel

If the Left didn’t control the media, their Big Lie approach to almost everything wouldn’t work. As it is, it is their number 1 PR method.


49 posted on 04/26/2010 7:27:13 PM PDT by FreedomPoster (No Representation without Taxation!)
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To: Pontiac
Good News

And the bribing begins! I wonder how the Democrats are going to bribe each other for votes this time around?

50 posted on 04/26/2010 7:35:48 PM PDT by Bokababe (Save Christian Kosovo! http://www.savekosovo.org)
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