April 22nd, 2010
05:56 PM ET
8 years ago

Dems on financial reform bill: 'The games are over'

Washington (CNN) - Senate Democrats called out Republicans on Thursday for what they said was the promotion of "falsehoods" on the financial reform bill and vowed to move the bill forward.

Republican leadership has "decided the best way to stop it ... is by polluting the debate with myths and mischaracterizations," Senate Majority Leader Harry Reid said at a news conference after President Obama's speech on financial reform in New York.

"I'm not going to waste any more time. ... If they let us go to it, we'll be happy to start debate," Reid said. "The games are over."

The Senate's financial reform bill would set up new regulatory oversight of the financial industry's practices with the goal of preventing another Wall Street meltdown like the one in 2008 that launched the U.S. recession.

On Thursday, Reid filed a motion to end debate on the bill, setting up that vote for Monday. The expected outcome of the vote is too close to call. Reid said Democrats are willing to work with Republicans if they are earnest about pushing the bill forward.

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Filed under: Democrats • Financial Reform
soundoff (40 Responses)
  1. Jay T.

    I need to stop being shocked by things. Because, seriously, I can't imagine anyone not being for financial reform after what happened to our economy a year and a half ago. But, you watch the Right wing spin machine spin this needed piece of legislation.

    April 22, 2010 06:01 pm at 6:01 pm |
  2. Charlie in Maine

    Explain what it does,dare them to vote against it that's up to them. If it passes use it in your commercials this fall. If they can stop it..use that even more. I know there is a lot of money.but there are more votes on Main Street than on Wall Street. Or to put it another way: every town in America has a Main Street and there is only one Wall Street in NYC. BTW who cares if Wall Street doesn't like it. NY is solid Blue.

    April 22, 2010 06:05 pm at 6:05 pm |
  3. Sniffit

    "Republican leadership has "decided the best way to stop it ... is by polluting the debate with myths and mischaracterizations,""

    And this is why I don't declare as a Dem, despite being a crazy liberal: how is it, after the behavior we just witnessed from the GOP over the HCR Bill, that the Dems can say something like this and make me think they might have been suprised that the GOP enagged in a misinformation campaign to skew public perception of pending legislation with misplaced fear and anger? They should expect it from the GOP...EVERY GODD-MN TIME...because the GOP's ideology has been disproven and debunked, so they have nothing left but liesand extremism steeped in noationalism (i.e., the gateway to fascism).

    April 22, 2010 06:06 pm at 6:06 pm |
  4. frank in valparaiso indiana

    FDR and Teddy Roosevelt had it right. Governments need to regulate and there needs to be strong anti trust work. Wall Street is a bunch of wild cowboys drinking on a weekend. They need a sheriff to keep them in order. We need the FDR controls back in, and we need whatever else to keep them from evading those controls.

    We came too close to the brink this time. And the US no longer has the manufacturing to keep us steady after a Great Depression.

    April 22, 2010 06:06 pm at 6:06 pm |
  5. Dave

    "On Thursday, Reid filed a motion to end debate on the bill, setting up that vote for Monday."

    Gotta get that vote in before anyone has time to understand what is really in it, and what effect it will have. Will REALLY have.

    Typical game plan for this administration.

    April 22, 2010 06:11 pm at 6:11 pm |
  6. Stacie

    Yes! Glad the dems finally grew a pair! I was about to ask them if they'd like to borrow mine for a while.

    April 22, 2010 06:13 pm at 6:13 pm |
  7. ran

    The fear/hate/obstructionist/purity Republicans can and I believe will continue their policy of "NO" until after the 2010 election at which time they will have been reduced to even less seats.

    The people are going to vote for more true Democrats and Independents in 2010 and in 2012 as long as the Republicans continue their old worn out ideologies.

    We want our elected officials to work for us the people not for special interest.

    April 22, 2010 06:14 pm at 6:14 pm |
  8. al in memphis

    Every item can't be an extreme debate- It'slike the Republicans tell us that the best way to get the economy going was to reduce corporate taxes. Now we find out that companies like GE don't pay taxes.

    Back in the 1700., this country had leaders like honest farmers - now we are surrounded by less than honerable comedians.

    April 22, 2010 06:17 pm at 6:17 pm |
  9. Jake

    Obama takes a million from wall st. and then he says they need reform.The fox watching the hen house.Give the money back barry if you are serious about reform along with the other politicians.

    April 22, 2010 06:20 pm at 6:20 pm |
  10. David

    Good on you, you know they are doing it right when they piss off the special interest groups.

    April 22, 2010 06:21 pm at 6:21 pm |
  11. Joseph

    This should be a slam-dunk for the Dems since everybody knows the Repubs are in Wall Street's pockets hook, line and sinker.

    April 22, 2010 06:25 pm at 6:25 pm |
  12. Susie Q

    I am so sick of Republicans. They hate everything, from their nation to the president. You name it, they hate it. They wear black to honor their hate. Every Republican I know hates something. I just got an email from an older woman friend filled with hate about Obama. I think she is a racist, that is her biggest problem. That is her only problem.

    April 22, 2010 06:25 pm at 6:25 pm |
  13. T'SAH from Virginia

    Yep – the game's over because the banks said "HANDS OFF – how dare you expose us after what we did for you!!!!!" ROTFLMAO

    They're upset because President Obama accepted campaign funds from them??? What they're really upset about is that the money they most likely gave, was STOLEN in the first place!!! NOW, NO MORE BIG BONUSES!!!

    April 22, 2010 06:28 pm at 6:28 pm |
  14. ib

    The democrats will ram this thing down our throats just like they did the so called healthcare bill. We need to make them listen to us; vote them out in Nov. at least enough of them so they have to listen to people and not just themselves.

    April 22, 2010 06:34 pm at 6:34 pm |
  15. Obama the Liar

    hey! clueless Harry-your days of threats and bankrupting America are over,,,See you at the crap tables in Searchlight.

    April 22, 2010 06:47 pm at 6:47 pm |
  16. Michael

    Democrats don't stop now! Go all the way with financial reform! Do not let Wall Streets crying or the repuglicans manipulation and lies stop you! I do not care about the fact that democrats received money from Wall street, but I do care if the money will cause democrats to be against financial reform or weakened the bill, so that Wall Street will continue gambling with tax payers money! Repuglicans are the gangster wannabes in government!

    April 22, 2010 06:50 pm at 6:50 pm |
  17. m smith

    Thank You it is about time. No more games with these repos either talk it through or move on. They have wasted the tax payers time and money as it is. Thank you

    April 22, 2010 06:59 pm at 6:59 pm |
  18. Hammerer

    Financial reform bill sounds remarkably like Obamacare.
    Dems write the bill in dark back rooms, wheeling and dealing, making deals under the table, buying votes and hollering "the Repubs are a party of no, and will not join us" just like the healthcare.
    1500 pages and no one knows what is in the bill, as healthcare "after the bill is passed we will all find out at the same time" just like healthcare.
    And the voters sit on their hands and all say "they can't do that."
    Sometime people will wake up but then the damage will be done.


    April 22, 2010 07:00 pm at 7:00 pm |
  19. Gil

    I want to hear republicans say No to something that 80% of Americans support. Is it to help the people or to get re-elected. If they change their tune and say, Yes!" we know it is the later!

    April 22, 2010 07:01 pm at 7:01 pm |
  20. Linda

    Let's get this reform going. I took my retirement savings out of the market 2 years ago and I wouldn't dream of reinvesting in Wall St. until we have some assurances we won't be taken to the brink of disaster again!

    April 22, 2010 07:04 pm at 7:04 pm |
  21. annie against biased news

    And yet another demon-crap bill to cost taxpayers more money – new office more govt. fed workers. Let these financial institutions sink or swim on their own! ENOUGH! The banks that have closed have been given to georgie soros. ENOUGH! Time to IMPEACH THIS SOCIALIST, COMMUNIST, MARXIST president and all of his administration!

    April 22, 2010 07:04 pm at 7:04 pm |
  22. rob

    Thanks again DNCNN for giving us all the dems talking points. I don't trust any of these politicians but especially the Dems. They say lets not wait, if we don;t do something right now the sky will fall. This is serious stuff, the Dems owe it to the country to go slow and try to build a consensous. If they negotiate on a bill that is trully transparent and can garnish some Republican support then there would be no contoversy here at all. Why rush and why try to paint the Repubs as villians.

    All we hear from the liberal media and the Dems is how bad "Partisanship" is when the Dems are experts at it but its never a problem untill the other side uses it.

    Do it right.

    April 22, 2010 07:05 pm at 7:05 pm |
  23. Four and The Door

    No, the games will be over when the American people take back the Senate and House of Representatives in November. With the political games the Democrats in congress have been playing with the blessings of the Democratic Obama administration, the American people have been on the losing end.

    April 22, 2010 07:07 pm at 7:07 pm |
  24. Kalina1

    Please don't let Republicans to pull your nous again till its too late, just go forward with this bill, soon or later it will protect us it will work for everybody.

    April 22, 2010 07:13 pm at 7:13 pm |
  25. all the news that's fit to omit

    Can someone like maybe CNN ask the White house why Fannie and Freddie (THE MAIN reason why we got into this mess) are NOT part of the reform bill?

    Of course Dodd wrote some of this bill and he got THE MOST from F and F so that makes sense, who is listed as the number two recipient........

    Hey, surprise, surprise, surprise, Barry Owebama was second on the list?

    Wow, answered my own question, but can CNN double check with the administration just for the heck of it?

    April 22, 2010 07:14 pm at 7:14 pm |
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