April 26th, 2010
06:20 PM ET
8 years ago

Senate Republicans block debate on Wall Street reform bill

Washington (CNN) - Senate Republicans succeeded Monday in blocking the chamber from debating a Wall Street reform bill pushed by Democrats and the Obama administration.

The vote means that senators will continue closed-door negotiations on two proposals passed by Senate committees to be merged into a bill intended to prevent another Wall Street meltdown like the one in 2008 that led to the U.S. recessions.

The Senate's 41-member Republican caucus signaled before the vote it would unanimously oppose the motion to begin debate on the bill, meaning there was no chance it could succeed.

Democrats needed 60 votes to pass the measure, including at least one Republican in addition to the 59 votes in the Democratic caucus.

The final vote tally of 57-41 included two Democrats who voted against the motion. One was Senate Majority Leader Harry Reid, D-Nevada, who voted "no" for procedural reasons to ensure he could bring the motion up for reconsideration in the future.

The other Democrat to oppose the measure, Sen. Ben Nelson of Nebraska, said he did so because there was no final bill to be debated.

Two Republicans were not present for the vote.

Updated: 6:30 p.m.

More on CNNMoney.com: Senate delayed on Wall Street reform

Filed under: Senate • Wall Street
soundoff (49 Responses)
  1. rachel

    You forgot to add a democrate joined them.

    April 26, 2010 06:27 pm at 6:27 pm |
  2. Carmelle

    Can someone explain to me why would they block even debating the bill? This is not the bill, it's to bring it to the floor so it can be amended.


    April 26, 2010 06:31 pm at 6:31 pm |
  3. Bob-Texas

    What else is new. What has the GOP done but stop any progress in Washington and then complain that nothing gets done! Right up the Tea Party, Palin, Limbaugh agenda. Here is a good one they want less government but want something done about immigration. Sort of cake and eat it too. Or just say no to everything and whine a lot.

    April 26, 2010 06:31 pm at 6:31 pm |
  4. Mike

    The key here is to keep Wall Street as it is. It is also to keep congress from being able to work on other issues like immigration reform and unemployment. The trick is to keep everything as bad as possible until November. Then the Republicans can show ignorant America, that the Dems have done nothing. Then they can work to push these things through and take credit in elections to come. Simple politics and praying on the stupidity of America.

    April 26, 2010 06:33 pm at 6:33 pm |
  5. David

    Disgusting, the GOP is again playing political games on the backs of the people that pay their salaries. Hey GOP – the economy crumbled under your watch the least you could do is play ball to ensure that the same or worse cannot happen again.

    April 26, 2010 06:35 pm at 6:35 pm |
  6. normajean

    Seriously, could we have expected any thing else from the Repubs? They can't even handle a debate? Can there be anyone out there that has any faith {honestly} in the Republican party after the last year and a half of nothing but devisiveness ,criticism, and total refusal to take part in any governmental issue.Actually, what have the Republicans accomplished in this time period except stand around with their thumbs in their mouths.? I could not, in good conscience, ever help vote one of them into office again.I hope there are many voters who feel the same.

    April 26, 2010 06:37 pm at 6:37 pm |
  7. Willy Brown

    What are you democrats trying to push this all of a sudden? Hiding something, Harry, Barry & Nancy?

    April 26, 2010 06:39 pm at 6:39 pm |
  8. Carmelle

    Why isn't there a Tea Party on WS? Is it because they don't see a Black CEO calling the shots?

    ok, seriously tho, why not?

    April 26, 2010 06:40 pm at 6:40 pm |
  9. barryg

    So what else is new with the Reoublicans? They continue to be the party of "NO". What will ever please them! Cannot say what i am thinking!!

    April 26, 2010 06:42 pm at 6:42 pm |
  10. mad as hell in Arizona

    Of course the republicans voted NO that is what the always do! What weenies!

    April 26, 2010 06:47 pm at 6:47 pm |
  11. Marquis Wilson

    Republicans are absolutely hilarious go into the mid term talking no.You have just stepped into a mouse trap.Why are you in DC??? Just got Obama started send your lobbyist

    April 26, 2010 06:48 pm at 6:48 pm |
  12. Brian L

    This continues to show that Republicans hate America.

    April 26, 2010 06:48 pm at 6:48 pm |
  13. If We Can Defeat Him On Health Care It Will Be His Waterloo

    Remember in November who met with the Hedge funds and then voted against Wall Street reform

    Got that, Tea Party: Who really speaks for your interests: Wall Street
    Republicans or Main Street Democrats?

    April 26, 2010 06:49 pm at 6:49 pm |
  14. Blaum

    Will the Dems try to shove something else prematurely down our throats? Take the 'bailout clause' out of the bill....then you might have something....

    The Democratic congress is painfully wrong in their assumption that Americans agree with every. single. thing. they. propose.

    get a clue...

    April 26, 2010 06:49 pm at 6:49 pm |

    The Democrats should physically make the Republicans Filibuster. Meaning make them stand up and talk until they drop. Show the American people how the Republicans are for the big banks screwing us. Don't just take their word for it, make them do it.

    In NOvember, Vote NO to the party of NO.

    April 26, 2010 06:49 pm at 6:49 pm |
  16. Dan

    Finally, someone stops the spending, government intervention, and the fundamental change to the worse of the USA.

    April 26, 2010 06:57 pm at 6:57 pm |
  17. Andy

    Good – block them-having Chris Dodd watch money is like having a pedophile run a daycare.We do not need more government-we need better government-FIX WHAT WE HAVE NOW-AND WHERE ARE THE JOBS ? I HEAR 0 ABOUT JOBS-NOTHING-NADA.

    April 26, 2010 06:58 pm at 6:58 pm |
  18. Michael from Ventura

    Main Street voters wi hold the gop responsible in November. This whole obstruction thing has gotten way out of hand!

    April 26, 2010 06:58 pm at 6:58 pm |
  19. Terry From West Texas

    Is there a Democrat in the Senate with the least bit of courage? Is there any insult or degradation that Senate Democrats will not endure? Have they no shame at all? Is there nothing that they will stand up for.

    If Republicans are the "Party of No" then Democrats are the "Party of Whatever You Say."

    Tomorrow, Democrats could move to simply pass one of the bills without debate. A Democrat could then call for a vote. Republicans would have to filibuster. The Democrats could simply keep the Senate in session 24/7 until 5PM on election day in November, when they could all go home and watch the election returns.

    Instead, Democrats are all laying on the couch in their luxurious offices with cold cloths pressed to their eyes, trying not to think about it.

    April 26, 2010 06:58 pm at 6:58 pm |
  20. Barbara

    Once again, Senator Nelson is a thorn in the side of the Democrats...however, he is STILL a Dem and not likely to be thrown under the bus (which would certainly be the case if the parties were reversed and he were a Repub and this was a Repub bill). You know - that "Purity Test" thingy.

    Keep working Democrats... keep showing the Repubs for what they are - eventually they'll start to look at the BIG VOTES – in November and will have to do SOMETHING.

    April 26, 2010 07:00 pm at 7:00 pm |
  21. Jake

    More Democratic smoke screen to avoid the real issues -JOBS JOBS JOBS Clinton had glass/stegal repealed-that regulated this situation and now the democratics want you to think they are the saviors. Kinda like starting a fire when you are a fireman and then putting it out.

    April 26, 2010 07:02 pm at 7:02 pm |
  22. Cayce

    SOLUTION -elect all democrats and we will not have a wall st to worry about,all the money will be distributed in entitlements-that will show the bad evil wall st. of course America will grind to a halt;BUT,the dems win.

    April 26, 2010 07:04 pm at 7:04 pm |
  23. Sue

    OF COURSE THEY BLOCKED IT!!!! What else is new....that's all they need to do.....The republican party is useless and have no idea how to govern....THEY SHOULD NEVER BE IN POWER AGAIN UNTIL THEY LEARN HOW TO COMPROMISE!!!

    April 26, 2010 07:05 pm at 7:05 pm |
  24. Paul S

    Civil War broke out between BHO and his czars on the one hand vs. Soros and Buffett on the other. The czars are pushing the Kenyan/Indonesian to the far left, and if he doesn't deliver they will throw him under the bus for a new Trotsky or Lenin or Stalin. These are Kerensky days, not the Weimar Republic like that idiot Chomsky would like you to believe. And this is the Commies News Network, just like the Izvestia and Pravda of old times.

    April 26, 2010 07:09 pm at 7:09 pm |
  25. k

    Is anyone suprised that they blocked it?

    April 26, 2010 07:09 pm at 7:09 pm |
1 2