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. Obama the liar

    poor Harry...our nation will now fall because you didn't get your way.....

    April 27, 2010 05:32 pm at 5:32 pm |
  2. Jim

    Republicans do not even want to open debate on financial reform. Why: Because they are in bed with Wall Street or because they would rather shut the government down than allow progress under a Democratic president? Which is worse?

    April 27, 2010 05:34 pm at 5:34 pm |
  3. Steve (the real one)

    Sorry but this is not the result the Dems wanted. Let's do this again, and again, and again! WHAT A ROYAL WASTE OF TIME!

    April 27, 2010 05:35 pm at 5:35 pm |
  4. Lynne WA state

    I don't get it! Why is the GOP so afraid to have a debate? This why having only two parties in power is a bad thing...they can play games with the things that are important to regular Americans

    April 27, 2010 05:37 pm at 5:37 pm |
  5. Mikey

    Another Republican fillibuster. What a surprise. They have obliterated the records for obstructionism in Congress ever since they were ousted from power in 2006. Just a bunch of sore losers. "If you won't play the game our way, we'll take our ball and go home."

    April 27, 2010 05:38 pm at 5:38 pm |
  6. Smith in Oregon

    The Republican lawmakers and Party of NO is simply far to deep in the pockets of the special interests in the Banking and Wall Street firms to allow any meaningful regulation in making certain America's economy cannot be sabotaged by Wall Street greed as recently happened.

    Is anyone surprised the Republican Party of NO is blocking financial reforms? NO

    If Americans want meaningful Banking and Wall Street financial reforms and regulations, vote in more Democratic lawmakers.

    April 27, 2010 05:43 pm at 5:43 pm |
  7. Mario ca

    McConnell, lie he just wants more money from banks

    April 27, 2010 05:45 pm at 5:45 pm |
  8. Chuck

    Mikey...You are an IDIOT!!!!!

    April 27, 2010 05:46 pm at 5:46 pm |
  9. sonny chapman

    A "better bill" ? Now what exactly does that mean? Better for who ?

    April 27, 2010 05:49 pm at 5:49 pm |
  10. PalmReader

    THIS is the party that wants to take back Congress for the benefit of America? Voting against even DEBATING Finance Regulations? Sending a strong message are you? To whom, I wonder?

    Reminds me of Middle School, when no one DARED to have an opinion beyond what their little base of idiots thought.

    Lack of leadership got you down, GOPers? Tough luck, that. Could have told you following Limbaugh wasn't going to get you very far.

    April 27, 2010 05:51 pm at 5:51 pm |
  11. Anthony Beasley

    I can't believe people still give the Republicans cover! If you aren't willing to have an open debate, don't complain when people make deals in panels and committees! I don't blame the Republicans as much as I blame the American people for putting up with these gimmicks! They're not afraid of anything because there is so much hatred for the President and they bank on that. The funny thing is they may be right! I've seen people who literally don't want America to become a better place because they don't want to deal with hearing it happened under this President! Shame on all of you! When you can't agree to have an open debate, but complain that you're not being heard, who are you really fooling!

    April 27, 2010 05:52 pm at 5:52 pm |
  12. Michael from Ventura

    Again America- look at what's going on! The gop doesn't care about Main Street because Wall Street is financing them- Time to make them pay in November!

    April 27, 2010 05:52 pm at 5:52 pm |
  13. vegage

    Republicans are a disgrace for this country. We the american people will not forget this in November.

    April 27, 2010 05:53 pm at 5:53 pm |
  14. Michael from Ventura

    Mickey is absoutely CORRECT!

    April 27, 2010 05:53 pm at 5:53 pm |
  15. Marty, FL

    I'm sorry, but where are the tea party protest against these Republicans siding with Wall St.?? The continued silence leaves the tea partiers with NO credibility.

    April 27, 2010 05:54 pm at 5:54 pm |
  16. HHH

    If I was a Republican, I would be so ashamed. Their party is doing nothing for them. Republicans, watch the hearings going on right now that Senator Levin is holding on Goldman Sachs. Your Senator is saying this is okay. It is not okay. I wish every Republican would call their Senator and tell them....HEY, THIS IS NOT OKAY. We, as Americans, do not approve of Goldman Sachs causing millions of people to lose their jobs and homes. I am one of the luckier ones, but I do know people that have lost their jobs and homes because of Wall Street, and I am sure everyone does. This is not okay.

    April 27, 2010 05:54 pm at 5:54 pm |
  17. Livin' the good life

    Either way, American taxpayers are going to get soaked again...Why worry about it? Those people are going to do what they want anyways. (Until it gets close to election time and then they will suck up to the ignorant ones who have short term memories.) Even my boss told a vehement lie yesterday and ALL our jaws dropped! The problem I have with that is, he boasted about doing it a few months ago! I can't stand liars!...Beau Colby

    PS: Sorry for the negative outlook but, it is the truth...

    April 27, 2010 05:57 pm at 5:57 pm |
  18. Susan

    When the GOP won't even come to the table to debate something this country needs then the Democrats should take it behind closed doors and make what ever deals they have to ......... How anyone can support the Republicans is beyond me.......this is the most Hateful and Spiteful, sore lossing bunch of men and women I have ever seen.......never get my vote.....

    April 27, 2010 05:58 pm at 5:58 pm |
  19. Victim of GOP Taliban

    We have to wait for McConnell to have another secret closed-door meeting with Wall Street executives – just like Dick Cheney did in 2001 with energy industry executives – to determine how the lobbyists want to write the legislation? Neo-Con's sure really do know what's "best for Americans" by having all these secret undisclosed meetings to write legislation in exchange for $.

    April 27, 2010 05:59 pm at 5:59 pm |
  20. Anonymous

    It's not just the GOP if it was they would pass.

    April 27, 2010 06:01 pm at 6:01 pm |
  21. ThinkAgain

    The Republicans want to block any meaningful Wall Street reform until after the 2010 mid-term elections. Why? Because they want to show Wall Street Republicans are on their side (and against the American public) so Wall Street will continue to fund their election campaigns.

    It's that simple, folks!

    April 27, 2010 06:04 pm at 6:04 pm |
  22. nadeem

    GOP only want to water down the bill behind closed doors, they are afraid to put their amendments forward in the light of the senate floor.

    April 27, 2010 06:05 pm at 6:05 pm |
  23. Dominican mama 4 Obama

    Anthony Beasley.........
    You hit the nail right on the head with your comment. This is truly sad.

    April 27, 2010 06:06 pm at 6:06 pm |
  24. Indiana voter

    Sure are a lot of Democrats who forget how they acted when they were the minority. Mikey is the perfect example of someone with selective memory. Does the year 2000 bring up any images of a certain party being "sore losers?" You still bring it up, and have never let it go. The term "sore loser" is definitely something the Democrat party should be very familiar with.

    April 27, 2010 06:08 pm at 6:08 pm |
  25. Leslie

    Is it a surprise? Republicans like the big corporations and Wall Street because they are as dishonest as they are.

    April 27, 2010 06:08 pm at 6:08 pm |
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