April 27th, 2010
05:27 PM ET
4 years ago

GOP again blocks Wall Street reform debate

Senate Majority Leader Harry Reid switched his vote from 'yes' to 'no,' in a procedural move that allows him, under the Senate rules, to bring the bill up again as early as Wednesday for another vote.
Senate Majority Leader Harry Reid switched his vote from 'yes' to 'no,' in a procedural move that allows him, under the Senate rules, to bring the bill up again as early as Wednesday for another vote.

Washington (CNNMoney.com) - Senate Democrats failed again Tuesday to muster the 60 votes needed to start debating Wall Street reform.

The official vote was 57-41 in favor of moving forward with Senate Majority Leader Harry Reid, D-Nev., switching his vote from "yes" to "no," in a procedural move that allows him, under the Senate rules, to bring the bill up again as early as Wednesday for another vote.

Sen. Ben Nelson, D-Neb., again joined 39 Republicans to vote against the proposal to officially start debating the Wall Street reform legislation before other lawmakers on a Senate Banking panel negotiate a deal. Two Republicans did not vote.

"We think this is the best way to get a better bill," said Senate Minority Leader Mitch McConnell, R-Ky., explaining why his caucus has united to block the bill's movement.

Full story on CNNMoney.com


Filed under: Democrats • Financial Reform • GOP • Senate • Wall Street
soundoff (96 Responses)
  1. Cynthia

    The Republicans owe their souls to Wall Street and Big business. Who do you think they are banking on getting all of their campaign money from? They are nothing but a disgrace to this country. They don't give two cents about anyone but the rich and powerful. They don't even try and hide it. Instead, they run their crazy "sweethearts" Palin and Backman out there and get them to act all "folksy" and hope that makes people forget that their actions from straight from the devil himself.

    April 27, 2010 07:26 pm at 7:26 pm |
  2. KM

    I am a Democrat but this is why we end up with a one sided bill because the other side doesn't want to participate. When they don't participate,the Dems come up with a work around and most of the ideas are one sided. I don't hate republicans because they do have some great ideas whenever they're willing to play. However, I do hate the games that they have been playing with this "it's our way or no way at all".

    You lost, get over it and get to work to write a better bill instead of the one that you will complain about once it is passed by a Democratic controlled Congress.

    April 27, 2010 07:28 pm at 7:28 pm |
  3. Russ

    Th Republican Party has done nothing constructive this past year.
    All they do is filibuster andd vote "No". Wonder if they would try to get something done for the country if we could stop their paychecks.
    Why should they continue to receive a salary of over $100,000 and do absolutely nothing....If they had a regular job out in the real world they would have been fired long before this.
    Hope everyone is smart enough to remember this party of Do Nothing" at the polls in November!

    April 27, 2010 07:32 pm at 7:32 pm |
  4. Every

    I am not surprised by repuglicans voting against Wall Street reform! Each time they vote against this reform and keep it from going to the floor for debate, we Americans can really see whose in Wall Street pockets! A Repuglican president pushed the TARP bank bailout through congress in 2008! This what I call corporate welfare, which repuglicans have always supported for those on Wall Street, but not for the poor on main street! Repuglicans are stalling, delaying and hoping to fillibuster the reform bill, then come out with a week bill probably 2 pages long, which would be reminsent of the one page Healthcare bill they proposed! Repuglicans are upset Wall Street campaign contributions this year will diminish because of Wall Street Reform, not because American taxpayers have been bilked out of hundred of billions of dollars and their mortgages were sold bye a firm of flim flam men (con artist, charlatans, mafia types, shiesters), who are hoping repuglicans can halt the Wall Street Reform or weaken the substance of the bill!

    April 27, 2010 07:36 pm at 7:36 pm |
  5. Djinn

    The corporate puppet-masters cannot ventriloquist anything but "no" while this president, elected by the majority of Americans, is still in office. For all of their lame and flimsy excuses, there is not a single Republican that has the backbone to act in the name of the people who elected her/him. Pitiful. Vote these people back home. That is, vote no when their names appear on a ballot.

    April 27, 2010 07:40 pm at 7:40 pm |
  6. anthony

    This is called "Political Suicide" by the Republicans.

    But something tells me come November, they will exercise, in full force, their brand of historical revisionism. Along with a blistering barrage of lies, and smoke and mirrors to once again fool the average American into thinking whats good for them.. is actually bad.

    The only thing NOvember and Republicans will have in common will be "NO". As far as No Thanks. And Americans will put country before this pitiful Rightwing Party.

    April 27, 2010 07:41 pm at 7:41 pm |
  7. Enough

    Good I applaud the GOP for standing up to OUR best interests. Just because Democrats call it "reform" doesn't mean it is a good thing, We need to know what's really in it and why some things are NOT in it. Haven't we learned not to take politicians at their word on anything?

    April 27, 2010 07:43 pm at 7:43 pm |
  8. Greg, San Francisco, CA

    How anyone could say that the Republicans are trying to represent the best interests of Americans by blocking DEBATE about reform is beyond me.

    April 27, 2010 07:44 pm at 7:44 pm |
  9. Craig

    The GOP voted this down because right now Congress needs to spend its time focusing on the elephant in the corner: J O B S !!!!

    April 27, 2010 07:45 pm at 7:45 pm |
  10. A disillusioned Republican

    McConnell and his band of idiots has been bought and paid for by Wall Street. republicans are happy with the status quo; they do not want to reign in Wall Street. They just want to tear down Mainstreet who they were elected to represent. What part of corrupt politicians does the electorate not understand?

    April 27, 2010 07:49 pm at 7:49 pm |
  11. oldsoldierboy

    Here we "no" again.

    April 27, 2010 07:51 pm at 7:51 pm |
  12. hobart

    Mitch, you're priceless. You have the audacity to speak for the American Public, and say we won't take the Democrats' word for anything. In way that's true. We do want to see "where the beef is."

    But what you forgot is our perception of Republicans and your word. We do take your word for everything. We take your word that "No not only means no, but also means we're the Party of No Ideas. We also take your word that everything that comes out of your mouths is a lie. We take your word that because you have NO IDEAS, you lie instead. Like the lie that a bill that has absolutely no federal taxpayer buyouts does the opposite.

    Mitch, why do you and your fellow Republicans think we're too stupid to see through your lies?

    Mitch, why do you and your fellow Republicans pretend to be the party of main street when absolutely everything you say and do indicates that you're the party of the rich, or Wall Street?

    Mitch, why to do you and your fellow Republicans hate America?

    April 27, 2010 07:52 pm at 7:52 pm |
  13. Mike

    This has to do with stalling everything until November. If American's were smart enough, they would understand what is going on. Unfortunately, we are not that smart and come November Republicans will be able to stand up and point out that the Democrats have done nothing. That's the goal. Nothing.

    April 27, 2010 07:58 pm at 7:58 pm |
  14. Roger

    Harry Reid nust be taking lessons for Kerry, "I voted yes before I voted no!" Democrats are just showing that they are the party od scumbag trickery!

    April 27, 2010 08:22 pm at 8:22 pm |
  15. Anonymous

    Why not take out the loop holes for bank bailouts? That's all the Republicans want in the bill. Why are the D's so against that?

    April 27, 2010 08:24 pm at 8:24 pm |
  16. Pragmatic

    ... the GOP case for reform so weak they can't even allow it to be debated in the public forum!

    Like the "boy who cried wolf" ... the GOP just shouts "NO" all the time – and people have stopped listening.

    April 27, 2010 08:30 pm at 8:30 pm |
  17. Steve

    Hmm... Guess the Republicans have successfully blocked financial reform. Time to move on to other things. Hopefully people will remember in November. (Probably not...)

    April 27, 2010 08:40 pm at 8:40 pm |
  18. TonyInLargo

    This is no surprise. I think they should continue to bring it to a vote to the floor of the Senate until all voters, especially Independents, realize who the obstructionists are and whom they should vote for in the mid term elections, the general elections and every other election until the Republicans learn their lesson.

    April 27, 2010 08:42 pm at 8:42 pm |
  19. kaizer

    It's only to those who gain in the current financial structure vote no to any talks about it.I just hope that none of chidren became a repblican.

    April 27, 2010 08:47 pm at 8:47 pm |
  20. In the West

    Mikey got it just right.....

    April 27, 2010 08:50 pm at 8:50 pm |
  21. Ruty

    I think the republicans don't want Wall Street reform because they have something to hide.

    April 27, 2010 08:58 pm at 8:58 pm |
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