April 27th, 2010
05:27 PM ET
5 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. Four and The Door

    It is good to see politicians holding their ground for better legislation rather than just voting yes to something that doesn't do the job well. We don't need lousy reform just to say we got reform. Put in the effort and get it done right.

    April 27, 2010 06:10 pm at 6:10 pm |
  2. ran

    We need to vote in more true Democrats and or Independents in 2010 and in such #s that there will be no need for a single Republican vote to get things done. Right now nothing is getting done because of the fear/hate/obstructionist/purity Republicans.

    We can change this people by saying "NO" to the Republicans in 2010 and if they do not get it then vote more of them out in 2012 and beyond until they do get it . They are there to do our business not theirs.

    April 27, 2010 06:11 pm at 6:11 pm |
  3. Anonymous

    The Party of No Wall Street Reform. Too many donors would be upset by the GOP.

    April 27, 2010 06:12 pm at 6:12 pm |
  4. Dominican mama 4 Obama

    The bottom line is that the GOP doesn't care about the country anymore. They are so obsessed with bringing down this President any way they can that they are able, willing, and more than ready to risk prostrating the country AGAIN in order to point fingers and hold him responsible.

    I have NEVER EVER seen anything like this. I thought it would pass after a while, especially based on the economic meltdown we were experiencing. But no. They are only getting worse.

    The GOP is holding the country hostage until the next Presidential election. November 2010 wil NOT be enough for them. They want this Black man out of the White House ASAP. And they don't care what happens to us in the process.

    April 27, 2010 06:14 pm at 6:14 pm |
  5. GI Joe

    McConnell and his neo-nazi brown-shirts want absolute control and all the profits for the wealthy. To heck with the average American citizen. Can any of you tell me WHY you want to vote to make the wealthy wealthier and the down-trodden even more-so?

    April 27, 2010 06:15 pm at 6:15 pm |
  6. Larry

    I hope everyone in this country is watching this. The GOP, or what's left of it, is trying to block legislation that will prevent future financial collapses that cost millions of people to lose their jobs and homes.

    April 27, 2010 06:15 pm at 6:15 pm |
  7. David

    GOP, stop playing political games on the backs of the taxpayer. You allowed the worst economic disaster in decades so time to stop your obstructionist behaviour. Over 2/3rds of the public wants action here. . . and yeah it hasn't been forgotten that your many months old speaking notes on how attack financial reform legislation spelled out exactly what you are now doing; you were caught in having a strategy of just say NO and lie and say it allows for future bailouts.

    April 27, 2010 06:16 pm at 6:16 pm |
  8. cliokie

    The Republic of Rush is stalling until we are closer to the mid-term elections.This way they can still collect all the booty from the big banks to line their pockets. Then they will ask for reform to look good for the party and bluff the people into believing they were just trying to get it correct... Dont be fooled. show some stones for a change and bring it to the full house for debate ...

    April 27, 2010 06:24 pm at 6:24 pm |
  9. Future expat

    @Obama the liar

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

    That's exactly correct. "Harry's way" would advance the dialog on much-needed financial reform. Instead, the Republicans got *their* way (and, by extension, Wall Street's way) and blocked deliberations on reform. Our nation will now fail because of the actions of Republicans.

    I'm glad that we see eye-to-eye on this one.

    April 27, 2010 06:25 pm at 6:25 pm |
  10. Paula

    The Republicans are a giant dissapointment. If I had any respect for them when Reagan was President, it has vanished. This is just embarrasing. I hope the world isn't watching. Where is the bottom for this lynch mob?

    April 27, 2010 06:28 pm at 6:28 pm |
  11. TonyInLargo

    Keep presenting it for a vote, so the voters, especially those who are Independents,can fully understand who the obstructionists are and whom they have to vote for in the next midterm elections, general elections etc

    April 27, 2010 06:29 pm at 6:29 pm |
  12. althea

    Again and again we see the Republicans doing anything and everything to stop the Democrats. What a sorry state of affairs we live in.

    April 27, 2010 06:29 pm at 6:29 pm |
  13. proud dem in nc

    Gee, imagine that!!! The Repiglicans blocking Wall Street reform. . Whenever the Rethuglicans try to block a bill, they use the excuse "they're trying to jam it down our throats" Party of no way!!! Reform Wall Street now!!!

    April 27, 2010 06:31 pm at 6:31 pm |
  14. Paula

    It's impossible to get two people to agree on one issue all the time like husband and wife. How can all of the Republicans vote No on Everything, All of the Time on Obama's legislations. They are like a cult–I will now call them the DUCKS! ! All in the same line. Please, vote these unpatriotic, greedy, lunatics out of office in November. Clean House! ! ! !

    April 27, 2010 06:31 pm at 6:31 pm |
  15. Anonymous

    Gee was anybody surprised by this????

    April 27, 2010 06:32 pm at 6:32 pm |
  16. SocialismBad

    Looks like this is opposed by a bi-partisan group of Senators, Rebulican & Democrat. I thought bi-partisanship was GOOD?!!

    Looks like the whiney DemocRATS will have to come to the table for real and honest negotiation if they want reform. I commend the Reblicans, the Party of No-More-Socialism!! Keep up the good work!

    April 27, 2010 06:34 pm at 6:34 pm |
  17. ricky atlanta

    I'm so over the GOP being the Party of NO!... I'll never vote for a RNC as long as I can Vote!!!

    April 27, 2010 06:35 pm at 6:35 pm |
  18. Justin

    I am confused... how is the best way to get a better deal refusing to have a debate on the subject?????? Why is it immigration reform and wall street reform are such important Republican issues until the chance comes up to be part of a bill to actually DO SOMETHING ABOUT IT??

    April 27, 2010 06:35 pm at 6:35 pm |
  19. Paula

    The Republicans don't want reform because they want another recession so they can get richer.

    April 27, 2010 06:36 pm at 6:36 pm |
  20. Bruce

    These are the same people who deplored the Dems for so called back room deals on the Healthcare reform. Now they're holding up this bill so that they can negotiate behind closed doors. They don't even want to debate this issue in public...WHAT HYPOCRITES!!!!

    April 27, 2010 06:37 pm at 6:37 pm |
  21. Paula

    Not to worry! ! In the end, Good always triumps over Evil. It just sometimes takes a long time.

    April 27, 2010 06:37 pm at 6:37 pm |
  22. Paul

    How stupid those who support Wall Street over main street. It is not about big corporations, but about our families. We are the ones who vote, we are the ones they are suppossed to represent in congress.
    The Republican party is over along with those tea neonazis. Now we know on what side the GOP truly is, they are not for us, but against us. It is more important for them to maintain their wealthy donors rather than doing what is right. We all will be judged by our actions before God. No more NOpers

    April 27, 2010 06:39 pm at 6:39 pm |
  23. Terry from West Texas

    Why can't Democrats call their bluff. Call the Senate into session, submit a bill, and call for a vote – no debate. Republicans will filibuster. Keep the Senate in session 24/7 until election day. Perhaps the public will decide that it's time for them to vote for Senators who vote.

    April 27, 2010 06:39 pm at 6:39 pm |
  24. Paula

    No Independent thinkers in the Republican Party. All are programmed robots. Is this what we want in power?

    April 27, 2010 06:40 pm at 6:40 pm |
  25. DHEMINGWAY

    The Republican party; the party of no ideas, no solutions to help the American people, in fact this party has become shameful. They won't even debate this problem, why? because they would rather see the President fail than put America first.

    April 27, 2010 06:41 pm at 6:41 pm |
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